The appointment of Ziggy Switkowski as an independent non-executive director of Crown has become effective following the receipt of all necessary regulatory approvals.<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0Ziggy Switkowski<\/a>\u00a0has been confirmed as chairman of Crown Resorts following the necessary regulatory approvals. Switkowski was elected in August to replace\u00a0Helen Coonan<\/a>, who assumed the role on an interim basis when Ken Barton stepped down<\/a> following\u00a0the ILGA\u2019s inquiry into Crown\u2019s fitness to keep its licence for Crown Sydney.<\/p>\n\n\n\n However,\u00a0Adrian Finanzio<\/strong>, the counsel assisting Victoria\u2019s Royal Commission into Crown Resorts questioned the appropriateness of Coonan remaining in the position. Coonan stepped down in August and\u00a0was briefly replaced by Jane Halton\u00a0<\/strong>as interim chair. Halton will remain an independent non-executive director.<\/p>\n\n\n\n Last month, the\u00a0Blackstone Group<\/a>\u00a0made a new unsolicited, non-binding proposal to acquire all of the shares in Crown at a price of AU$12.50 (US$9.11) cash per share. The offer came six months after Blackstone’s last offer<\/a> for the operator.<\/p>\n\n\n\n In March,\u00a0Blackstone, which already has a 10 per cent holding in Crown, offered to buy the outstanding shares for\u00a0AU$11.85 cash per share<\/strong>. It then increased its offer to AU$12.35<\/strong> in May.<\/p>\n\n\n\n Crown said it would assess the proposal. Any acquisition would be conditional on Blackstone receiving final approval from the casino regulators in each of Victoria, New South Wales and Western Australia (the Regulators).<\/p>\n","protected":false},"excerpt":{"rendered":" The appointment of Ziggy Switkowski as an independent non-executive director of Crown has become effective following the receipt of all necessary regulatory approvals.<\/p>\n","protected":false},"author":176,"featured_media":25097,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Ziggy Switkowski's appointment as Crown Resorts' Chairman is now effective, having secured all requisite regulatory approvals, concluding a period of interim leadership following governance inquiries. Concurrently, Blackstone Group has submitted an enhanced, non-binding acquisition proposal for Crown, valuing shares at AU$12.50, contingent upon final approval from Australian casino regulators across multiple states.","focusai_entities":"Ziggy Switkowski, Crown, Helen Coonan, Ken Barton, ILGA, Adrian Finanzio, Victoria\u2019s Royal Commission, Jane Halton, Blackstone Group","focusai_location":"Australia, Victoria, New South Wales, Western Australia, Sydney","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Crown's Governance Impact","query":"How will Ziggy Switkowski's confirmed chairmanship influence Crown Resorts' ongoing regulatory remediation efforts and its long-term governance framework, particularly concerning the findings of the ILGA and Victorian Royal Commission?"},{"label":"Blackstone Offer Implications","query":"What are the key financial and strategic implications of Blackstone's revised AU$12.50 per share offer for Crown Resorts, and what specific regulatory hurdles must be cleared by casino regulators in Victoria, NSW, and WA for the acquisition to proceed?"}],"footnotes":""},"categories":[16336,157],"tags":[14657],"class_list":["post-25064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-crown-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25064","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=25064"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25064\/revisions"}],"predecessor-version":[{"id":25069,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25064\/revisions\/25069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25097"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Crown receives new acquisition offer from Blackstone<\/h2>\n\n\n\n