James Packer quits family company board
SYDNEY: James Packer has stepped down from the board of private family company Consolidated Press Holdings, just four months after quitting the board of casinos operator Crown Resorts.
A CPH spokesman said Mr Packer left the CPH board within the last fortnight as he ‘‘continues his recovery’’ — a reference to the mental health issues that led to him leaving Crown in March.
No further details were available yesterday.
CPH — Crown’s largest shareholder with a 47.2% stake — said in March Mr Packer was suffering from mental health issues.
It was understood at the time his decision to resign from Crown was sudden and made independently after he realised he had been unwell for some time.
At the time, he was in the US and intended to take a complete break from work commitments to regain his health.
The billionaire had only taken up a Crown directorship in August 2017, having resigned from the board almost two years earlier. — AAP