Okada Resigning from Wynn Resorts Board

Wynn Resorts Ltd has announced that Kazuo Okada has resigned from its board. This potentially ends a long-running dispute between the Japanese billionaire and CEO Steve Wynn. Once Kazuo Okada was the largest shareholder in the company, but Wynn Resorts Ltd made it forcibly to buy back his stake. Now Okada says that the CEO Wynn is seeking to push him out and this way he will increase his own influence and control of the company.

Today on a shareholder meeting it will be voted on the proposal to remove the Japanese Kazuo Okada from the Wynn Resorts board and the board will be reduced to only eight persons.

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