Crown Resorts Limited have announced that Helen Coonan would assume the role of Executive Chairman on an interim basis, effective immediately.
Ken Barton has stepped down from his role of Chief Executive Officer and Managing Director with immediate effect.
Helen Coonan will lead the company as Executive Chairman while the Board oversees a search for a new Chief Executive Officer. Crown Executive Chairman Helen Coonan said “I would like to thank Ken for his dedication and commitment to Crown. Ken joined Crown more than a decade ago and has played an invaluable role with the business, initially as CFO and in the past year as CEO. Ken has always put the interests of Crown first.
“Assuming the role of Executive Chairman is a decision I have not taken lightly but the Board feels it provides leadership stability and certainty at this important time for the business. The Board is determined to maintain the momentum as Crown takes significant steps to improve our governance, compliance and culture. Working closely with the NSW Independent Liquor and Gaming Authority and regulators in Victoria and Western Australia, I will continue to lead on implementation of Crown’s ambitious reform program.”
Mr Barton will continue to assist the Executive Chairman in the coming weeks to ensure a smooth handover.
Ken Barton said “I would like to thank the Crown Directors for the opportunity to work with them on implementing Crown’s strategy. Over the past 10 years, Crown has established itself as a great Australian company with world-class assets and I am absolutely certain the business is now on the right path as it works to restore confidence in its operations. I am committed to assisting with the transition to new leadership.”
Mr Barton will receive entitlements agreed under the terms of his employment contract (a summary of which is included in Crown’s Annual Report) and otherwise as required by law, by the terms of applicable company policies and the Senior Executive Incentive Plan and the Crown Digital Senior Executive Incentive Plan.