James Packer walks from family company

Former Crown Resorts Casino owner has resigned from the board of Consolidated Press Holdings due to mental health issues.

Australia.- James Packer no longer holds a seat on the board of Consolidated Press Holdings (CPH), his family’s private investment company, after he announced his resignation. Mr Packer’s decision was confirmed on June 27th through a letter sent to the Australian Securities and Investment Commission and was due to mental health issues.

The casino mogul had also decided to walk away from his acting Director position at Crown Resorts in Australia in March (his second resignation) for the same reason, amid several professional and personal issues. Furthermore, Australian media confirmed he actually checked into a mental health facility days after that decision.

CPH is Packer’s family’s private investment company and is holding onto 47.2 per cent stake the businessman as in Crown Resorts, in addition to other corporate interests. The company will also acquire Zhaopin, Zillow, Ratpac Entertainment and PrettyGirl, other assets owned by Mr Packer.