- James Packer has resigned as director of Crown Resorts, citing personal reasons
- Crown announced Mr Packer’s resignation in statement on Wednesday morning
- Executive Chairman John Alexander said Board respects Mr Packer’s decision
James Packer has resigned as director of Crown Resorts for mental health reasons after a horror year.
Crown, headquartered in Melbourne, announced Mr Packer’s resignation on Wednesday with a statement from Executive Chairman John Alexander.
‘We have appreciated James’ contribution to the Board and respect his decision to step down from his role as a director at this time,’ Mr Alexander said.
A Consolidated Press Holdings spokesperson confirmed the resignation was due to Mr Packer’s mental health, The Australian reported.
‘Mr Packer is suffering from mental health issues. At this time he intends to step back from all commitments,’ the spokesperson said.
The resignation comes less than a year after Mr Packer returned to the Crown board, having previously stepped down as chairman in August 2015 and director four months later.
Mr Packer, now ranked eighth-richest in Australia, has seen his wealth shrink to $4.1billion, according to Forbes.
In early March the casino and media mogul was mentioned in an Israeli police report alleging he presented Prime Minister Benjamin Netanyahu with lavish gifts.
The Australian Federal Police interviewed Mr Packer in connection to the Israeli corruption enquiry, but he is not suspected of any criminal conduct.