According to local media reports, a spokesman for Mr Packer’s private investment company, Consolidated Press Holdings, said: “Mr Packer is suffering from mental health issues. At this time he intends to step back from all commitments.”
Consolidated Press Holdings is the largest shareholder of Crown Resorts. The privately held company earlier this month reduced its shareholding in Crown Resorts to maintain a 47 percent stake.
Commenting on the resignation, John Alexander, Crown Resorts’ executive chairman, said in a statement accompanying Wednesday’s filing: “We have appreciated James’ contribution to the board and respect his decision to step down from his roles as a director at this time.”
Mr Packer had rejoined the company’s board of directors in August last year after stepping down as company chairman in December 2015.
Source: GMB / GGR Asia
