The long drawn feud over the re-election of Elaine Wynn, to the board of Wynn Resort Ltd, ended on Friday as ex-wife of co founder Steve Wynn failed to secure her position back as a member of the board.
Shareholders had to decide among re-electing co founder, Elaine Wynn or going with the company's proposal to re-elect two sitting board members share holders sought to go with the company's suggestions.
Despite her attempts to convince the share holders that she was the best candidate for the board, Elaine Wynn the third largest shareholder, had to face defeat.
Kim Sinatra, the general counsel of Wynn Resorts announced the results of the vote at the annual meeting of the company at the Encore Theater which is located inside the Las Vegas resort.
Sinatra said that the shareholders confirmed to go with the recommendations of the company to re-elect the two sitting board members J. Edward Virtue and John J. Hagenbuch. The result of the votes shrunk the number of board members to seven from the earlier eight.
After the meeting was over, in a statement, Elaine Wynn said "While I am certainly disappointed by the result of today's vote, I am hopeful that I have once again served as an agent for change and improvement for this company, which I love so deeply."
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