A recent agreement has made between Caesars Entertainment Corporation and Carl C. Icahn and associated identities under the term that Keith, Courtney Mather, and James Nelson will be with Caesar’s Board along with the membership and structure of Company Board of Directors. Their appointment is made on a regulatory basis which will be customary. Other than this, three directors will be stepped down. The agreement also provides the partnership company to appoint a fourth representative in case if a new CEO is not named to this board within 45-days of this agreement.
Furthermore, the Chairmen of the board said, their new colleagues have come up with diversity and spirit with the relevant experience which will be fruitful in upgrading our shareholders. Due to Caesar’s reconstruction, we were unable to focus on the value creation but now for sure, we will act upon it with our new directors. He also said that he would like to thank all the left directors for their tireless work and efforts for the Company.
On this, Carl C. Icahn said, “ I believe to develop regional presence strongly is more important which will allow Caesars to take the advantage and add more and more players into its Vegas Market. This will make him the most unbeatable company in Vegas, the gaming expert capital worldwide. Caesars should also put its contemplation on the leadership continuation making perfect the real assets and other states”.
On the slate of nominees for election, Messrs, Mather, and Cozza will be nominated by the company at the Annual Meeting’19. And Mr. Nelson will be responsible for serving them in the class of directors.
In the process of governance, in connection with the 2019 annual meeting, the board will propose further upgrading under the amendment which says:
- Permit 15% of the company’s outstanding shares to call a specific meeting having the stockholders.
- Stop the adoption of stockholders right plan except in limited scenarios.