Two insiders leave Station Casinos board

Tuesday, Dec. 9, 2003 | 10:57 a.m.

Station Casinos Inc. of Las Vegas today announced that Lee Isgur has been elected to its board of directors and that Chief Financial Officer Glenn Christenson and shareholder Delise Sartini have resigned from the board.

The company confirmed that Christenson would continue to serve as chief financial officer. Sartini, wife of board member Blake Sartini and sister of executives Frank and Lorenzo Fertitta III, is one of the company's largest shareholders, but holds no other position with the company.

The locals' gambling giant said that due to the changes, the majority of the company's board is now comprised of independent directors.

The independent members of the board are Lowell Lebermann, James Nave, Lynette Boggs-McDonald and Isgur. The remaining members of the board are Frank Fertitta III, Lorenzo Fertitta and Blake Sartini. The company also announced that Lorenzo Fertitta has assumed the additional responsibilities of vice chairman of the board.

"Changing the board composition to a majority of independent directors is an important step and is reflective of our growth as a company. We are excited that Lee has chosen to join our board. He brings a wealth of financial expertise, as well as experience in the gaming, entertainment and technology industries. Lee will serve as the 'financial expert' on our board's audit committee in accordance with the new disclosure requirements under Sarbanes-Oxley. We are also fortunate that the board will still have access to Glenn Christenson in his continuing role as chief financial officer and to Delise Sartini in her role as one of the company's largest shareholders," Frank Fertitta III, chairman and chief executive, said.

Isgur has more than 30 years of experience in research and investment banking in the gaming, entertainment, and technology industries. Since 1999, he has served on the board of directors of eDiets, a Deerfield Beach, Fla., Internet-based diet, nutrition and fitness company. He is the managing partner of Corporate Counselors, a research and investment banking consulting firm formed in 1997.