Crown Resorts Chief Executive Rowen Craigie to Step Down
Australian gambling operator, Crown Resorts, is examining its strategy and making changes from the top down in response to challenges it is facing and that are impacting its high roller revenue from China.
Rowen Craigie, who has held the position of chief executive for a decade, will step down at the end of the month to be replaced by executive chairman, John Alexander, who will assume Craigie’s duties, as well as the roles of chairman and executive deputy chairman.
The company is aiming to create a simpler executive structure in order to allow it to focus more on its Australian assets – its hotels and casinos in Melbourne and Perth, its luxury hotel-VIP casino in Barangaroo in Sydney, its Queensbridge hotel tower development in Melbourne and its digital division.
“Our focus is very much on driving the profitability of our Australian resorts,” stated Mr Alexander. “There’s work to be done to bring Sydney into fruition and we’re very confident that it’s going to be a very successful property.”
Major changes in the company’s strategy led up to Mr Craigie’s departure. It dropped plans to demerge its international assets, sold down its stake in its joint-venture casino and hotel interests in Melco Crown Entertainment in Macau, dropped its Las Vegas casino plans, re-appointed James Packer to its board and replaced Robert Rankin as chairman.
Mr Craigie was a key executive at Crown Resorts in Australia for more than twenty years and contributed to the success of the company in that time.
“In particular, Rowen has ensured Crown Melbourne has remained the largest and most successful integrated resort in Australia, with the highest standards of social responsibility,” said Mr Alexander. “Rowen has also played a major role in Crown’s expansion in Perth, Macau and in the award of a new license in Sydney.”
March 27, 2017