Having resigned in March as director of Crown Resorts Ltd. (CWN:ASE), Australian billionaire James Packer has reportedly been replaced with John Poynton (pictured), who the gaming and entertainment group recently named as non-executive director.
Poynton, who is currently serving as director of Burswood Limited, Crown’s Perth subsidiary, was nominated by Consolidated Press Holdings to assume the role, according to Business News.
Currently, Poynton is chairman at Australian based, independent oil and gas exploration company, Strike Energy Ltd (STX:ASE); Jindalee Partners, a Perth-based merchant banking and corporate advisory firm, which Poynton co-founded; and SC8, an Australian-based cyber security and threat intelligence solutions company.?Poynton also serves as a director for ECU’s Security Research Institute Advisory Board and a Board Member of the Future Fund Board of Guardians.
John Alexander, executive chairman for Crown, reportedly said that he was delighted by the appointment, according to the news agency.
Alexander went on to say, “John is an experienced director having previously served as chairman, deputy chairman, non-executive director of a number of ASX-listed companies, federal government boards and education institutions. He will make an excellent addition to the board,” said Alexander.
In March this year, the 50-year-old Packer resigned from the casino company his private investment company, Consolidated Press Holdings Pty Ltd, owns about 47% of, with a spokesman for the investment company citing “mental health issues” as the reason for the resignation.
At the time, Alexander reportedly said, “We have appreciated James’ contribution to the Board and respect his decision to step down from his role as a director at this time.”
Shares of Crown were up 0.15% at $13.22 at the time this article was published.