Crown hopes a bit of Ziggy stardust will save its empire

Respected company director Ziggy Switkowski will replace Helen Coonan as Crown’s chair as the company fights to retain its Victorian casino licence.

Ziggy Switkowski will join Crown’s board immediately and pending regulatory approvals will become the company’s chairman. Photograph by Paul Jeffers The Australian 03 July 2020

Crown has moved to salvage its three-city casino empire, installing former Telstra chief executive and respected company director Ziggy Switkowski as chairman.

Dr Switkowski will replace Helen Coonan, who will step down from Crown’s board on Friday after serving as a director of the James Packer-backed group for more than a decade.

Ms Coonan, a former Howard government minister, managed to convinced NSW regulators she could turn the Crown around, following explosive revelations it facilitated money laundering and other crime at its flagship Melbourne casino.

But it was a different story in Victoria, with counsel assisting the royal commission into the group declaring she was not suitable to helm the company, putting at risk its 27-year stronghold on the state’s only casino.

Crown said Dr Switkowski - who is also NBN Co’s chair - would joined Crown’s board immediately, pending approval from the state’s gambling regulator. Director and former federal health department secretary Jane Halton will act as chair in the interim.

Dr Switkowski’s installation also appears a move by Crown to allay fears of a Sydney takeover of the group. He is based in Melbourne, unlike Coonan who calls Sydney home and even had a corner office in Crown’s yet to be opened new casino at Barangaroo.

Dr Switkowski’s ascension as Crown’s chairman will herald a complete sweep of senior leadership of the company with former Lendlease chief executive Steve McCann replacing Crown’s ousted ex-chief Ken Barton earlier this year.

Ms Coonan was confident Dr Switkowski would complete the much-needed reforms to make Crown a suitable casino licence holder in Melbourne, Sydney and Perth.

“My aim has been to stabilise and strengthen the business following the recommendations of the (NSW) Bergin inquiry and set Crown on the reform path now being embedded across our world-class assets,” She said.

“I have always sought to act in the best interests of Crown and endeavoured to consider the impact on our shareholders, customers, and employees. I am confident the board’s selection

of Ziggy as chairman will reinforce the organisation-wide commitment to our reform program.

“Crown is firmly on a pathway to rebuild trust and positioned for success over the long term. I’m excited by the opportunities for the business with our premium integrated resorts underpinned by best-practice governance and a culture absolutely aligned to our social licence to operate.”

Dr Switkowksi said: “I look forward to joining the Crown Board and working with Board colleagues, CEO Steve McCann, and Crown employees to grow value for shareholders by continuing the urgent work to reform the business”.

Originally published as Crown hopes a bit of Ziggy stardust will save its empire