LAS VEGAS (AP) — The ex-wife of Steve Wynn, who is also the biggest shareholder and co-founder of Wynn Resorts, is seeking the removal one of the company directors overseeing an internal investigation into sexual misconduct allegations against the casino magnate.
Elaine Wynn said in a filing Monday with U.S. regulators that John Hagenbuch is allied too closely with Steve Wynn. She asked shareholders to reject his re-election.
Steve Wynn resigned as chairman and CEO and later sold his company shares after the Wall Street Journal reported that several women said he harassed or assaulted them and that one case led to a $7.5 million settlement. He denies the allegations. He has filed a defamation lawsuit against The Associated Press for its reporting on a separate allegation made to police.
Elaine Wynn also raised the issue of executive pay at Wynn, which she said is not tied to performance. She said Hagenbuch was serving on Wynn's compensation committee when Steve Wynn's pay was called into question in 2015. She also criticized a recently approved $24 million pay package for CEO Matthew Maddox, calling it "exorbitant for a first-time untested public company CEO."
Wynn said she is not seeking a seat on the board for herself or anyone else and urged shareholders to withhold votes for Hagenbuch at the annual shareholders meeting on May 16.
Shares of Wynn Resorts Ltd. rose slightly before the opening bell Monday.
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