Crown Resorts board member, Tony Cosanos, has declared her intent to step down from her position, amidst the company’s ongoing endeavors to restructure its board and governance framework.
Having joined the board in the middle of 2018, Cosanos stands as one of just two remaining board figures who were present during the aftermath of the James Packer-supported group’s controversies and official investigations. Her exit, taking effect following the yearly general assembly on October 21st, arrives as the organization anticipates regulatory consent for former Telstra and Optus head, Ziggy Switkowski, to assume the role of chairman.
Cosanos conveyed a sense of accomplishment regarding her input in Crown’s transformations but indicated that she is relinquishing her role to dedicate her attention to her other substantial obligations. She voiced her belief in the new executive team, spearheaded by (pending authorization) Dr. Ziggy Switkowski and incoming CEO Steve McCann, to steer Crown towards evolving into a prominent, accountable, and esteemed integrated resort enterprise.
Temporary Crown chair, Jane Halton, commended Cosanos’ contributions to the company, emphasizing her unwavering guidance and backing.
The firms fresh Sydney gaming permit remains suspended amid a series of “abrupt exits” from its leadership group. This follows a February investigation by the New South Wales criminal justice authority that revealed indications of potential financial crime at the gaming establishment.