Toni Korsanos is the latest director to step down from Crown Resorts’ board. She will depart after the annual general meeting on October 21.<\/p>\n\n\n\n\n\n\n\n
Australia.- After the departures of\u00a0Helen Coonan<\/a>\u00a0and\u00a0Xavier Walsh<\/a>, now Toni Korsanos has resigned as a Crown Resorts director.<\/p>\n\n\n\n Through a press release,\u00a0the casino operator announced Toni Korsanos will step down\u00a0<\/strong>after the Annual General Meeting on October 21.<\/p>\n\n\n\n Jane Halton, Crown’s interim chairman<\/strong>, said: “On behalf of the Board, I would like to acknowledge and thank Mrs Korsanos for her valuable and significant contribution during her tenure as a Director of Crown.\u00a0<\/p>\n\n\n\n “Mrs Korsanos has provided stability and outstanding leadership and support to Crown as a Director and Chair of the People, Remuneration & Nomination and Audit & Corporate Governance committees.”<\/p>\n\n\n\n Korsanos said: \u201cIt has been a privilege to work with the members of the Board, senior management and the broader Crown team.\u00a0Crown has been through a period of significant scrutiny while also managing the impacts of a global pandemic<\/strong>.\u00a0<\/p>\n\n\n\n “I am confident under the leadership of Dr Ziggy Switkowski and Mr Steve McCann, and the refreshed senior management team, Crown is well positioned today to become one of the most responsible and respected operators <\/strong>of integrated resorts.”<\/p>\n\n\n\n Korsanos joined Crown Resorts in 2018. Along with Jane Halton, she was one of only two directors who stuck through the operator’s recent controversies and public inquires.<\/p>\n\n\n\n In August, Crown Resorts appointed\u00a0Ziggy Switkowski<\/a>\u00a0as chairman of the group to replace Helen Coonan, who stepped down after\u00a0Adrian Finanzio<\/strong>, the counsel assisting Victoria\u2019s Royal Commission into Crown Resorts questioned the appropriateness of her remaining in the position.<\/p>\n\n\n\n The company has named\u00a0Steve McCann<\/a>\u00a0<\/strong>as\u00a0chief executive officer of Crown Melbourne<\/strong>\u00a0in addition to his role as CEO of\u00a0Crown Resorts<\/a>.<\/p>\n\n\n\n KPMG, Crown Resorts\u2019 auditor<\/strong>, has warned that multiple investigations and the impact of the Covid-19 pandemic have created significant uncertainties over whether the Australian casino operator can continue to operate. <\/p>\n\n\n\n Since the company faced money-laundering allegations<\/a> in 2019, it has been involved in legal disputes and is currently facing two Royal Commissions. Crown has also said that the Australian Transaction Reporting and Analysis Centre (Austrac)<\/a> is \u201cvery likely\u201d to bring a civil lawsuit against its casinos in two cities, which could lead to hefty fines.<\/p>\n\n\n\n According to the Strait Times, the auditors\u2019 report said Crown bonds were in danger of being reimbursed<\/strong> if its credit score falls beneath speculation grade. <\/p>\n\n\n\n Auditors said: \u201cThe conditions disclosed\u2026 indicate a material uncertainty exists that may cast significant doubt on the group\u2019s ability to continue as a going concern.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Toni Korsanos is the latest director to step down from Crown Resorts’ board. She will depart after the annual general meeting on October 21.<\/p>\n","protected":false},"author":176,"featured_media":18387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Toni Korsanos is the latest director to resign from Crown Resorts' board, following a period of intense regulatory scrutiny and leadership changes. The casino operator faces ongoing Royal Commissions, potential civil lawsuits from AUSTRAC for money laundering allegations, and an auditor's warning regarding its ability to continue as a going concern.","focusai_entities":"Toni Korsanos, Crown Resorts, Helen Coonan, Xavier Walsh, Jane Halton, Ziggy Switkowski, Steve McCann, Adrian Finanzio, Victoria's Royal Commission into Crown Resorts, KPMG, Australian Transaction Reporting and Analysis Centre, Austrac, Strait Times","focusai_location":"Australia, Melbourne","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Remediation Actions & Risk?","query":"What specific remediation actions are being implemented to address the 'going concern' warning and mitigate credit rating risks at Crown Resorts?"},{"label":"AML Failures Strategy?","query":"How will the refreshed senior management team and board address the systemic AML failures identified by AUSTRAC and the Royal Commissions?"}],"footnotes":""},"categories":[16336,157,158],"tags":[14657],"class_list":["post-22704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22704"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22704\/revisions"}],"predecessor-version":[{"id":22722,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22704\/revisions\/22722"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18387"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Uncertainty over Crown Resorts ability to continue as going concern<\/h2>\n\n\n\n