Crown names Packer’s replacement

The casino company has appointed John Poynton as the new non-executive director.

Australia.- Crown Resorts has appointed a new non-executive director to replace James Packer, who left the company due to mental health issues. Perth dealmaker John Poynton is now a member of the board of Crown Resorts.

Poynton, who will replace Packer’s position once all regulatory approvals are received, was nominated by family company Consolidated Press Holdings. The dealmaker has worked for Crown locally as a director of subsidiary Burswood Limited (Crown Perth). He is currently chairman of Strike Energy, Jindalee Partners and SC8, and director of ECU’s Security Research Institute Advisory Board.

Company executive chairman John Alexander said that they are delighted that John has agreed to join the Crown board to fill the vacancy created by James Packer’s resignation. “John is an experienced director having previously served as chairman, deputy chairman and non-executive director of a number of ASX listed companies, Federal Government boards and education institutions. He will make an excellent addition to the Crown board,” he added.

James Packer resigned as the director of his company Crown Resorts Limited in March, and a spokesman for Packer’s Consortium Press Holdings, Crown’s largest shareholder, said that the businessman intends to step back from all commitments to focus on his mental health issues. A few weeks before his decision, he sold more than US$76 million worth of Crown shares, but he still retains a dominant stake of 47 per cent in the company.