One of only two directors to have survived the company’s recent leadership cull has stepped down from the board of Crown Resorts.
Crown announced Thursday that Toni Korsanos will not seek re-election and will retire as a director following the upcoming Annual General Meeting on 21 October 2021. Her departure leaves Jane Halton as the only remaining director of the 11 who were sitting on the board this time last year.
“It has been a privilege to work with the members of the Board, senior management and the broader Crown team,” Korsanos said.
“Crown has been through a period of significant scrutiny while also managing the impacts of a global pandemic. I am proud of the team we have built and the significant progress we have made in implementing our transformation and remediation agenda.
“I am confident under the leadership of Dr Ziggy Switkowski and Mr Steve McCann, and the refreshed senior management team, Crown is well positioned today to become one of the most responsible and respected operators of integrated resorts.
“I have made this decision to step down from the Board to focus on my extensive other commitments. I wish the Board and the entire team at Crown every success as they continue with the reform journey.”
The Crown Resorts board is in the midst of a complete overhaul following an inquiry and subsequent release of the Bergin Report in February, which found Crown unsuitable to hold a casino license for its new AU$2.2 billion Crown Sydney development.
The report was particularly critical of the role certain directors played in failing to ensure proper anti-money laundering controls were in place, and for allowing major shareholder CPH, owned by James Packer, to assert undue influence.
Crown has since appointed Nigel Morrison and Bruce Carter as new directors and former telco boss Ziggy Switkowski as chair of a new-look board tasked with saving the company’s license and reviving its battered reputation.