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Retail

Wynn shareholders reject executive compensation plan

FILE PHOTO: Company logos are displayed at Wynn Macau resort in Macau, China February 8, 2018. REUTERS/Bobby Yip

(Reuters) - Shareholders of casino operator Wynn Resorts Ltd WYNN.O voted against the company's executive compensation plan at its annual meeting last week, Wynn said in a regulatory filing late on Tuesday.

The company’s founder, Steve Wynn, resigned earlier this year after allegations of sexual misconduct and disposed his entire 11.8 percent stake in the firm for $2.1 billion.

Nearly 80 percent of the company's shareholders voted against the compensation proposal. bit.ly/2IE6h3B

Wynn Resorts could not be immediately reached for comment on the vote.

In a separate filing on Tuesday, Wynn said the compensation committee would comprise all three of its recently-appointed female board members. bit.ly/2kj1bvd

The company had said the appointments, made last month, were intended to help “improve the workplace environment and further stabilize Wynn”.

Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Sunil Nair

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