LOS ANGELES, March 13 (Reuters) - Casino operator Las Vegas Sands Corp on Friday said James Purcell resigned from the company's board this week, citing disagreement with the decision to dismiss William Weidner from the posts of president and chief operating officer.
Sands, which is controlled by billionaire Sheldon Adelson, said earlier this week that Weidner, a nearly 14-year veteran of the company, had resigned several days after the board informed him that his employment would be terminated.
The company said it has named Jeffrey Schwartz, chairman and co-founder of Asia's Global Logistic Properties, to replace Purcell as a company director.
In a letter dated Monday and filed with the U.S. Securities and Exchange Commission on Friday, Purcell said he had reservations 'as to the wisdom and the timing' of the efforts to oust Weidner.
'It was, in my judgment, wrong to engage in discussions with Weidner to request his resignation without a full and open discussion of the potential consequences of the series of actions that were planned,' Purcell said. 'No business enterprise should undertake the significant actions that have been and are proposed to be taken today without a full meeting of its board.'
Sands said in a regulatory filing last year that its board had formed an executive committee to address a number of outstanding differences between Chairman and Chief Executive Adelson and other senior management members.
(Reporting by Deena Beasley, editing by Leslie Gevirtz) Keywords: LASVEGASSANDS/ (deena.beasley@thomsonreuters.com; 1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Sands, which is controlled by billionaire Sheldon Adelson, said earlier this week that Weidner, a nearly 14-year veteran of the company, had resigned several days after the board informed him that his employment would be terminated.
The company said it has named Jeffrey Schwartz, chairman and co-founder of Asia's Global Logistic Properties, to replace Purcell as a company director.
In a letter dated Monday and filed with the U.S. Securities and Exchange Commission on Friday, Purcell said he had reservations 'as to the wisdom and the timing' of the efforts to oust Weidner.
'It was, in my judgment, wrong to engage in discussions with Weidner to request his resignation without a full and open discussion of the potential consequences of the series of actions that were planned,' Purcell said. 'No business enterprise should undertake the significant actions that have been and are proposed to be taken today without a full meeting of its board.'
Sands said in a regulatory filing last year that its board had formed an executive committee to address a number of outstanding differences between Chairman and Chief Executive Adelson and other senior management members.
(Reporting by Deena Beasley, editing by Leslie Gevirtz) Keywords: LASVEGASSANDS/ (deena.beasley@thomsonreuters.com; 1-213-955-6746; Reuters Messaging: deena.beasley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.