James Packer Quits Board of Own Company to Recover From Illness
(Bloomberg) -- 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.
To contact Bloomberg News staff for this story: Angus Whitley in Sydney at firstname.lastname@example.org.
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With assistance from Angus Whitley