Crown director John Poynton resigns

The last of James Packer’s direct representatives on the Crown Resorts board has resigned from the casino operator with John Poynton leaving both Crown and its Perth subsidiary with immediate effect after the NSW casino regulator said it did not consider him independent.

Mr Poynton had terminated his arrangements with Mr Packer’s private company Consolidated Press Holdings (CPH) and had attempted to stay on the Crown board as an independent director, but Crown announced his resignation on Monday morning.

“The Independent Liquor and Gaming Authority (ILGA) has advised Crown that it considers it appropriate that John step down as a director of all companies within the Crown group, due to a perceived lack of independence arising out of his past relationship with Mr James Packer and CPH, notwithstanding the recent termination of John’s consultancy arrangement with CPH,” Crown chairman Helen Coonan said in a statement.

“As a result, John has agreed to resign in the best interests of Crown and our shareholders, despite no adverse findings by the Commissioner in the ILGA Inquiry in relation to his suitability, integrity or performance.

More to come