General Counsel Mary Manos resigns, following other departures New interim exec-chair Coonan promises ‘root and branch’ change (Recasts and adds exec-chairman comments)
Feb 18 (Reuters) - Australia’s Crown Resorts Ltd new executive chair on Thursday sought to reassure investors that the beleaguered casino operator’s worst days were behind it, after an inquiry accused it of widespread money laundering and governance issues.
Announcing its first half-year loss in over a decade due to intermittent COVID-19 lockdowns that hurt its operations, and another executive departure, interim chairwoman Helen Coonan said she was committed to “driving the necessary ‘root and branch’ change” required.
By Reuters Staff
(Adds background)
Feb 5 (Reuters) - Northern Dynasty Minerals Ltd said on Friday that its wholly-owned Pebble Limited Partnership and the unit’s former chief executive officer had been served with subpoenas.
The subpoenas to produce documents is related to a grand jury investigation apparently involving recordings of private conversations regarding the Pebble mine project.
Tom Collier, CEO of Pebble Limited Partnership, the company trying to develop Alaska’s Pebble Mine project, had resigned in September after his comments on elected and regulatory officials in the U.S. state were covertly videotaped and released by an environmental activist group.
(Recasts and updates throughout, adds reports of WA regulator stepping aside, fund manager comment)
SYDNEY, Feb 15 (Reuters) - The chief executive of embattled Crown Resorts resigned on Monday, bowing to growing pressure after an inquiry found widespread money laundering and governance issues at the Australian casino operator.
The exit of CEO Ken Barton, who was harshly criticised in a state regulator-commissioned report released almost a week ago, removes a major block to the company regaining its gambling licence for its new flagship Sydney casino.
But it also deepens the uncertainty over the company’s future direction.
Three other Crown directors have stood down over the past week and a fourth has broken links with major shareholder James Packer, whose influence over the company was also strongly criticised in the report.
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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 laundering took place.
Investors said, however, that Barton’s resignation was only a matter of time and the fact that it hadn’t happened yet was likely due to the need to settle on his replacement and make changes to company structures.
Austrian Finance Minister Gernot Bluemel, a close party ally of Chancellor Sebastian Kurz, said on Thursday his home was searched by anti-corruption prosecutors treating him as a suspect in relation to possible party donations.