Packer quits board of own company to recover from illness
Billionaire James Packer stepped down as a director of his private investment company, three months after quitting the board of his casino operator Crown Resorts Ltd. because of mental health issues.
The 50-year-old resigned from closely held Consolidated Press Holdings Pty on June 27, according to a notice lodged with the Australian Securities & Investments Commission. Consolidated Press owns about 46 percent of Crown Resorts, according to Bloomberg data.
“Mr Packer has stepped off the CPH Board as he continues his recovery from illness,” a Consolidated Press spokesman said in an email.
At the time of Packer’s resignation from Crown’s board in March, Consolidated Press said he would stand back from all commitments. Twice-divorced Packer has endured a tumultuous few years, from the public breakup of his engagement with pop diva Mariah Carey to the conviction of Crown employees in China in 2017 for illegally promoting gambling. Bloomberg
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