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The entire board of James Packer’s Crown Resorts should resign over the casino group’s licensing crisis, corporate governance experts say. A scathing report on Crown, tabled in NSW parliament on Tuesday, has prompted a week of boardroom bloodletting at the company, with three directors so far resigning and at least one more set to follow.
3 Min Read SYDNEY (Reuters) - Australia’s Crown Resorts said it was still considering the position of Chief Executive Ken Barton at the casino operator after an inquiry into money laundering allegations found he was not fit for the job, putting its gambling licence in jeopardy. FILE PHOTO: The logo of Australian casino giant Crown Resorts Ltd adorns the hotel and casino complex in Melbourne, Australia, June 13, 2017. REUTERS/Jason Reed The statement came in tandem with the resignation of a third director, Andrew Demetriou, the chairman of Crown Melbourne, where the alleged money laund...
Switzer Daily 12 February 2021 The new world is coming and those who ran the old world or were big beneficiaries of that era are falling like ten pins. If you need examples of what I’m talking about, try the board at Crown and its major shareholder, James Packer. And then there was Eddie Maguire, the President of Collingwood, who resigned over mishandling a press conference covering the club’s issues with racism. And there’s AMP that recently thought it had a US buyer but Ares Management has now walked away from the embattled wealth management business. But this isn’t a 2021 thing. We...
<div class="at-above-post addthis_tool" data-url="https://www.metro.us/crown-says-ceo-position/"></div>SYDNEY (Reuters) – Australia’s Crown Resorts said it was still considering the position of Chief Executive Ken Barton at the casino operator after an inquiry into money laundering allegations found he was not fit for the job, putting its gambling licence in jeopardy. The statement came in tandem with the resignation of a third director, […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Set...
Save Share Billionaire James Packer has decided to become a passive investor in Crown Resorts to help the casino group resolve its legal and regulatory challenges, and appears open to selling his controlling stake, people who know him say. Mr Packer, who has been following the controversy from his home in the US ski resort of Aspen, will not seek or accept any private information from Crownâs directors or executives or try to influence their decisions, sources said. James Packer gave evidence at the NSW casino inquiry in October. Â By choosing not to use his 37 per cent stake to influ...