New board members appointed at Wynn Resorts - FOX5 Vegas - KVVU

New board members appointed at Wynn Resorts

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Elaine Wynn is shown in a Las Vegas courtroom. (FOX5) Elaine Wynn is shown in a Las Vegas courtroom. (FOX5)

A day after Elaine Wynn, the largest shareholder of Wynn Resorts sent a letter asking for changes to restore the company's reputation, the company announced it appointed three new "independent directors."

The board of directors said it has expanded to 11 members, with the appointment of Betsy Atkins, Dee Dee Myers, and Wendy Webb. The board said it approved the new directors at a previously scheduled meeting in Las Vegas on Tuesday.  The new members signified the first step taken to refresh the board. The board members were appointed after a "lengthy search" with the help of a search firm. 

On Tuesday, Wynn also sent a letter to the board of directors stating she believes the company's current governance structure needs to be reformed and the board of directors needs to be reconstituted. She stressed that the changes should be implemented immediately before any "material decisions are made that could affect the long-term interests of the shareholders." She noted a headline from Bloomberg that suggested a possible sale of the Boston casino. 

She specifically asked that the board reopen the window during which shareholders can nominate directors and propose other business for a period of 60-days. She also asked that the board takes steps that would allow for the majority of the board to be made up of new directors effective at the company's 2018 annual meeting. She suggested either declassifying the board or vote to increase the size of the board to allow more members. 

Wynn noted that she does not intend to nominate herself or anyone closely associated with her. 

Wynn sent the letter after dropping a lawsuit against Wynn Resorts and her ex-husband Steve. A judge dismissed the case pending an undisclosed payment from him. Wynn Resorts made no payment under the agreement. 

Copyright 2018 KVVU (KVVU Broadcasting Corporation). All rights reserved. The Associated Press contributed to this report. 

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