Crown Resorts CEO Rowen Craigie is leaving at the end of the month after 24 years in the business.
James Packer’s gaming and hotels group today posted a 75% rise in net profit to $359.14 million for the six months to December, however normalised net profit after tax was $191.3 million, down 9.1%.
Craigie has spent nearly decade in the top job, and 15 years as CEO of various Crown and Packer entities, having originally joined Crown Melbourne Ltd in 1993 under Lloyd Williams.
The company’s new executive chairman, John Alexander, will take on the CEO’s role. Craigie will stay on as a consultant on unspecified projects.
Crown said that after reducing its investment in Melco Crown Entertainment and killing off plans for a project in Las Vegas, the board wanted a “simplified organisation structure”.
Alexander said: “This new structure will ensure that for the near term, there is a major focus on the performance of Crown’s key Australian operations, its existing projects, Crown Sydney and Queensbridge Hotel Tower and Crown’s digital businesses.”
The senior management team includes Barry Felstead, CEO Australian Resorts, Todd Nisbet, EVP of Strategy and Development, and Ken Barton, CFO, who also assumes the role as CEO of Crown’s digital businesses.
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