Wynn seeks shareholder meeting to vote on Okada removal
LOS ANGELES (Reuters) - Wynn Resorts Ltd (WYNN.O) Chairman and Chief Executive Officer Steve Wynn said his company will call a special shareholder meeting to vote on removing dissident former shareholder, and Japanese billionaire, Kazuo Okada from the casino company's board of directors.
Wynn Resorts will file a proxy statement with the U.S. Securities and Exchange Commission for the proposed vote, the company said on Thursday.
The planned vote is the culmination of a nearly year-long battle between Wynn and Okada, who heads Universal Entertainment Corp 6425.OS, and is Japan's largest pachinko manufacturer. Okada was also Wynn's partner and largest investor until their dispute erupted in early 2012.
Wynn told Reuters the company decided to take this new action because the dispute was threatening growth and investment.
(Editing by Ron Grover, Mary Milliken and Carol Bishopric)
- Tweet this
- Share this
- Digg this
- Bangalore-bound Malaysian plane lands safely after landing gear scare
- UPDATE 2-Malaysia Airlines plane returns safely after landing gear scare
- Bangalore-bound Malaysia Airlines plane to make emergency landing
- Calls to U.S. poison centers involving e-cigarettes jump - CDC
- Bangalore-bound Malaysia Airlines plane returns safely after landing gear scare
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article