Tony Cosanos is resigning from the Crown Resorts board as the company strives to revamp its board and governance.
Cosanos and Jane Halton were the only two board members who endured the controversies and public disapproval surrounding the James Packer-supported group. She became a board member in the middle of 2018.
Her exit coincides with Crown’s anticipation of regulatory consent for Ziggy Switkowski, the former head of Telstra and Optus, to assume the role of chairman.
Cosanos expressed her satisfaction with her contributions to Crown’s transformations but attributed her resignation to a desire to prioritize her “substantial” other obligations, including her positions as a director of Treasury Wine Estates and executive deputy chair of Scientific Games.
“I am confident that under the guidance of Dr. Ziggy Switkowski and [incoming CEO] Steve McCann, along with a revitalized senior management team, Crown is now poised to become one of the most ethical and esteemed integrated resort operators globally,” she remarked.
Crown’s interim chair, Halton, acknowledged that Ms. Cosanos had provided the company with “steadiness and exceptional guidance and backing.”
The Sydney-based casino’s operating permit within the upscale Crown Casino complex has been revoked. This decision arises during a tumultuous phase for the organization, which is simultaneously navigating the unexpected resignation of numerous executives. The revocation follows an investigation conducted earlier this year in February by the New South Wales Crime Commission, which unearthed proof of money laundering activities occurring at the gaming establishment.