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Crown steps into real world with change at the top

Crown has two new public faces, which will help reset its relationship with regulators, investors and the broader community.

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The end of John Alexander’s time as executive chairman of Crown Resorts is a win for Crown investors on two fronts.

Firstly, it finally splits the chairman and chief executive roles. There’s no place for executive chairmen in listed companies in 2020, particularly where the presence of a large, powerful shareholder such as James Packer demands strong independent governance. As new chairman Helen Coonan said, Crown is now in line with modern governance models.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/crown-steps-into-real-world-with-change-at-the-top-20200127-p53v5y