Crown Resorts Ltd (ASX: CWN) is the company behind the Crown casino and entertainment complexes in Melbourne and Perth. The company is also building Crown Sydney in Barangaroo.
James Packer is one of the wealthiest people in Australia and he’s also a major shareholder of Crown. Owning that many shares meant he could have a position on the Crown Board. However, today the company announced that he will be resigning from his position due to personal reasons.
A spokesman from Mr Packer’s private CPH business said that the personal reasons related to mental health issues that he needs to concentrate on.
Crown’s ASX market release quoted the Crown Executive Chairman, John Alexander, as saying: “We have appreciated James’ contribution to the Board and respect his decision to step down from his role as a director at this time.”
The Crown Resorts share price has fallen by 1.61% so far today according to Google Finance.
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