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It pays well to be a Wynn Resorts board director. The casino operator’s directors receive $310,000 annually...
The director defendants failed to act to investigate or arrest Mr. Wynn's frequent and egregious behavior, despite being on notice of it.
Overall, our findings suggest that director excess compensation may be a sign of board entrenchment where overcompensated directors are not necessarily focused on protecting shareholder interests.
Carefully selected by Mr. Wynn, the Wynn Resorts board is composed of loyal directors unwilling to take on their friend and benefactor.
There is no justification for this disproportionately higher compensation for directors on the Wynn board even if their performance was admirable.