Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Okada resigns from Wynn board

Send a link to a friend

[February 22, 2013]  LAS VEGAS (AP) -- Wynn Resorts Ltd. says Kazuo Okada has resigned from its board, potentially ending a long-running dispute between CEO Steve Wynn and the Japanese billionaire.

Okada was once the largest shareholder in Wynn Resorts, but the company forcibly bought back his stake.

The casino operator alleges Okada acted improperly in dealings with Philippine officials. Okada says the CEO seeks to push him out and increase his own control of the company.

The two men have traded accusations of unethical or illegal conduct during an extended legal battle between one-time friends that has become increasingly personal and public.

A shareholder meeting will be held Friday to vote on a proposal to remove Okada from the board. The company expects it will pass. Subsequently, the board would be reduced to eight directors.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


< Top Stories index

Back to top


News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor