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NEWS 10 July 2018

James Packer resigns from Consolidated Press Holdings board

By Islam Soliman

Casino mogul James Packer has resigned from the board of his family private investment company, Consolidated Press Holdings, due to mental health issues.

According to a Bloomberg report, the Australian Securities and Investment Commission (ASIC) confirmed via a notice letter that Mr. Packer resigned from the  CPH board on the 27 June.

The news emerges after Packer resigned as director of Crown Resorts in March, citing mental health as the reason for his departure. Packer checked into a mental health facility in Boston just days after resigning from the board of the Crown Resort.

CPH retains Mr.Packers 47.2% stake in Crown and various other business interests. The company will also acquire half of his assets, including US property website Zillow, Asian online job marketplace Zhaopin, Australian fashion group PrettyGirl, and Ratpac Entertainment.

James Parker only rejoined the Crown board in January 2017, having previously resigned in 2015 to devote his time and energy on development plans in Sydney, Melbourne, and Las Vegas. His resignation from the Crown board follows a tumultuous few years.

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