There needs to be more women on boards of public companies. In the case of Wynn Resorts, if Elaine Wynn does not get elected to the board, it will mean a board composed entirely of white men. This is not good for any company, but it’s terrible for a company with a global customer base and strong interests in Asia. Besides, it makes sense as the third largest shareholder and someone who is intimately familiar with Wynn Resorts, Elaine Wynn should have a voice at the boardroom table.
Shareholders should wonder about T Rowe Price, the fund manager, who outside of the Wynn’s has the largest voting share. T Rowe Price should have a clear voting policy that promotes gender equality on the boards of the companies it is invested in. T Rowe Price should be mindful of its fund-holders.
Kudos to Elaine Wynn for standing up publicly for her interests. Her campaign, website, and other supporting documents are the most hardcore effort I’ve ever seen by someone putting themselves forward as a board candidate for a public company.
