Crown Resorts chairman Robert Rankin has stepped down from the board as part of a reshuffle of the company’s senior leadership, with James Packer returning as a director after quitting in December 2015.
The current deputy chairman, John Alexander, will replace Rankin from 1 February.
Rankin, who will remain a director, said he had “relished the opportunity to guide [Crown] during a rapidly changing period”.
“The next stage of development of Crown Resorts will be rightfully more focused on its outstanding Australian assets and, led by John Alexander, Crown Resorts has a very strong team in place to do that,” Rankin said.
Alexander said he would continue to focus on the company’s online gambling businesses, and on Packer’s high rollers casino and six-star hotel in Barangaroo.
“Crown Resorts is one of Australia’s leading entertainment companies and we will work hard to ensure it continues to deliver world-class facilities and services to all its customers and guests,” Alexander said. “I thank the Crown Resorts board for its support and look forward to representing all shareholders to ensure the business continues to grow and create value.”
The company has been plagued by controversy in the past year. Eighteen staff were arrested in China after a police operation across several cities in October. It is illegal to organise trips involving more than 10 people to foreign casinos or explicitly promote gambling activities in mainland China.
Crown has also scaled back its international ambitions.
The company has halved its stake in the Macau-based Melco Crown, a move that signalled a retreat from China and a refocusing on its Australian operations. It also decided not to proceed with a $2b casino development project in Las Vegas.
When Packer stepped down as chairman in August 2015, he said of Rankin: “Rob Rankin has my complete trust and respect as an executive and he will do an outstanding job as chairman. Given our global growth and aspirations, this is the right time for the company to make this change. I look forward to working closely with him.”
