Crown Resorts chairman Rankin to step down

Crown Resorts chairman Robert Rankin has announced he will be stepping down in February, to be replaced by executive deputy chairman John Alexander.

Effective February 1, Mr. Rankin will remain as Crown Resorts Ltd. director, and a director of Melco Crown Entertainment Ltd, according to a filing from Crown Resorts on Tuesday. 

Mr. Rankin is also stepping down as CEO of Consolidated Press Holdings. 

In a statement from Mr. Rankin, the departing chairman said: “Crown resorts is an outstanding company and I have relished the opportunity to guide it 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.”

Mr. Rankin says he will be returning to london “for the foreseeable future.”

Mr Alexander, commenting on the appointment said: “I am very pleased to be taking on the chairmanship of Crown Resorts at this time, particularly given our recent announcements aimed at maximising shareholder value. Crown Resorts is and will remain one of Australia’s most valuable tourism assets with its world-class resorts in Melbourne and Perth, and construction in Sydney is now underway. I am also excited about our plans to continue building our wagering and online businesses.”

In addition, gaming mogul James Packer has been appointed as a director of Crown Resorts, following a nomination by Consolidated Press Holdings Pty Ltd (CPH), and Guy Jalland has been appointed as CEO of CPH.