Crown Resorts has designated John Borghetti as William McBeath’s replacement as Chairman. McBeath will be relinquishing his position as the company’s head but will remain as an independent non-executive board member.
The integrated resort and entertainment conglomerate revealed today that Borghetti will officially take on the role starting July 1, 2024. McBeath has held the Chairman position since July 2022, following Blackstone’s purchase of the company. Throughout his time, he steered the company through a period of change and concentrated on fulfilling regulatory obligations. Under his direction, both Crown Melbourne and Crown Sydney maintained their respective casino permits, and Crown Perth demonstrated notable advancements.
“Mr. Borghetti is a highly esteemed director and executive possessing extensive expertise in operations, management, and governance, which will guarantee that Crown Resorts sustains its emphasis on secure and accountable operations while providing a more enriching and exceptional entertainment encounter for patrons,” stated McBeath.
Borghetti boasts a notable career exceeding 47 years in the airline sector and has held positions on the boards of numerous organizations. He received the Officer of the Order of Australia honor in 2017 for his significant contributions to the aviation, travel, and hospitality sectors.
“The Board’s primary objective continues to be ensuring the company’s adherence to regulations, safety, and profitability, while being well-situated for future expansion,” added Borghetti.
Crown Resorts in Sydney revealed adjustments to its executive team following a AU$2 billion (US$1.33 billion) investment in operational enhancements aimed at securing the renewal of its gaming permit.
The firm had been subject to examination, including an inquiry spearheaded by the Victorian casino regulatory body concerning accusations levied against Chief Executive Ken Barton in December of 2023. This came on the heels of a distinct wave of 1,000 staff reductions at the end of April.
admin