Despite opposition from two California pension funds over a lack of diversity, Red Rock Resorts shareholders overwhelmingly re-elected the casino company’s five-person, all-male board of directors.
California State Teachers Retirement System (CalSTRS) and Los Angeles County Employee Retirement Association (LACERA), which own an undisclosed number of shares, filed notices with the Securities and Exchange Commission (SEC) in May that they would “withhold” votes on the nominees.
Chairman and CEO Frank Fertitta III, Vice Chairman Lorenzo Fertitta, and members James Nave, Robert Cashell Jr. and Robert Lewis were unopposed and easily re-elected at the company’s May 30 annual meeting. They have been on the board since Red Rock went public in 2015. The Fertitta family controls 90 percent of the company’s votes.
