Shortly after regaining her voting power, Elaine Wynn has already made her first request—to overhaul Wynn Resorts’ board of not-so-young directors.
Wynn, currently the casino operator’s largest single shareholder with 9.26% stake, sent a letter to the current board of directors on Tuesday, in which she requested sweeping changes in a bid to “fully restore” Wynn Resorts‘ reputation. Specifically, Wynn wanted the board to “reopen the window” for at least 60 days ahead of the 2018 annual general meeting so shareholders can nominate directors and propose other business.
“I hereby request that… the board take steps that would allow for a majority of the board to be comprised of new directors effective at the 2018 annual meeting,” Wynn wrote.
To achieve this, Wynn outlined two “possible paths.” The first involved declassifying the board, or the existing directors could vote to increase its size so “the newly elected directors would constitute a majority of the board.”