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Billionaire James Packer has resigned from 22 Australian company directorships in the past few weeks and no longer holds any board seats in his home country, according to corporate records, signalling his almost full retreat from public business life.

The major shareholder of casino operator Crown Resorts, Packer cited mental illness as the reason for his quitting that firm’s board in March, following a tumultuous period in his life, which included a breakup with singer Mariah Carey and the failure of Crown’s expansion strategy. 

His spokesman said at the time that he intended “to step back from all commitments” and Packer was believed to be in the US where he was receiving help for depression and anxiety.

On 27 June he quit the board of his private company Consolidated Press Holdings (CPH). Corporate records showed that he resigned from 19 other directorships on the same day, and has given up another two since.

Packer, whose net worth is estimated by Forbes at $4.1bn, has quit 24 Australian company boards this year.

 

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20.07.2018
 
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