Institutional Shareholder Services is an independent proxy firm that has offered advice to stockholders preparing to vote for Wynn Resorts board members. The ISS has stated that stockholders need to vote on the white proxy card not the gold card. There has been a lot of concern that the two individuals on the gold card are not helping the company and should not receive the vote to be re-nominated as board members.
The ISS stated that Elaine Wynn has not done what she should with regard to driving the board in an appropriate direction or even the direction she promised. Wynn Resorts also said that it is happy ISS is telling stockholders to vote on the White card and not the gold card. Elaine Wynn made a statement saying voters need to choose the gold card in order to achieve “meaningful value creation” for the company.
The company’s annual meeting is scheduled for April 24 and many analysts expect that the question of Ms. Wynn’s tenure will be settled then.