Crown Resorts Ltd. has announced CEO Ciarán Carruthers will step down at the end of the year, with current president and chief operating officer David Tsai assuming the role of acting CEO from Sept. 1.
During his tenure, Crown implemented significant changes and secured approvals from regulators in Victoria and New South Wales.
In a statement, Crown Resorts chairman John Borghetti praised Carruthers’ “critical” work that resulted in the company retaining licenses in key markets.
“It has been a privilege to work alongside Ciarán during this period of transformation and remediation,” Borghetti said, noting the implementation of harm minimization programs and other compliance upgrades.
More regulatory steps remain for Crown’s Perth casino, but insiders say Carruthers’ leadership positioned the company for continued success.
Carruthers’ departure comes after Crown was cleared to operate in Melbourne and Sydney following detailed reviews of its past practices. He formerly served as chief operating officer at Wynn Macau Ltd.
Tsai will take over as acting CEO while Crown searches for a permanent replacement. VC
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