Crown Resorts Limited has announced John Poynton as the replacement for the vacant board position left by James Packer.
James Packer left his role on the Crown Board where he served as a director in March, citing mental health reasons for departure. Packer oversaw a period of decline for Crown Resorts since he returned to his role in January 2017.
Crown Resorts will be hoping that Poynton can turn its fortunes around. Recently the company has been forced to reduce in size as profits have dipped. In January it sold land for Packer's planned Alon development in Las Vegas to Wynn Resorts for $300m.
The new appointment brings with him a wealth of experience as he currently serves as the Chairman of Jindalee Partners, Strike Energy Limited and SC8 Limited. Poynton is also a Director of Burswood Limited (Crown Perth) making him no stranger to the company.
Poynton will take the role of a non-Executive Director as a member of the Crown Board upon the receipt of all necessary regulatory approvals.
Crown’s Executive Chairman, John Alexander, said, “We are delighted that John has agreed to join the Crown Board to fill the vacancy created by James Packer’s resignation. John is an experienced director having previously served as Chairman, Deputy Chairman and Non-Executive Director of a number of ASX listed companies, Federal Government boards and education institutions. He will make an excellent addition to the Crown Board.”