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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 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. ....
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’ve seen the demise ....
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