Can Wynn Resorts Finally Shake Ties to Steve Wynn?
Corporate partner David Meyers is quoted in an Agenda story titled, “Can Wynn Resorts Finally Shake Ties to Steve Wynn?” The story discusses the wake of the sexual misconduct allegations made against Steve Wynn, former CEO of Wynn Resorts, and evaluates the company’s corporate governance and board leadership. Meyers is quoted about the company’s high director turnover, noting how the changes are a “double-edged sword.” On one hand, the changes may indicate the board is not “burdened by the continuing distraction of whether a director was too beholden to Mr. Wynn or failed in its oversight function to act in the best interests of the company. The downside is, of course, that the board now has 60% turnover since January and the median tenure is reduced to less than three years of tenure. This means that there is very little institutional knowledge of the company at the board level.”