Former Crown chief Rowen Craigie in line for $9.3m payout
Shareholders in James Packer’s Crown will be asked to approve $9.3m in pay and benefits to former CEO Rowen Craigie.
Gaming billionaire James Packer’s Crown Resorts will ask shareholders to approve $9.3 million in pay and benefits to former chief executive Rowen Craigie at the casino and entertainment group’s annual meeting in Melbourne at the end of October.
The Crown notice of meeting reveals that Mr Craigie, who left the Packer empire in February after more than 20 years with the group, is entitled to $3.14 million in notice pay (equal to one year’s base pay), $3.14 million in severance pay and the equivalent of $3 million worth of Crown (CWN) shares, for a total exit package worth $9.28 million.
Crown executive chairman John Alexander and his directors have recommended Crown shareholders vote in favour of the moneys to Mr Craigie, who the notice also reveals did not receive any bonus for the year to June 30.
The notice of meeting, out this morning, reveals that Mr Packer, former AFL chief Andrew Demetriou and advertising executive Harold Mitchell will all stand for re-election to the Crown board.
Mr Packer, who turned 50 last week, is currently at his polo ranch Ellerstina in Argentina and has not been seen in Australia since the summer of 2015-2016, when he visited with his then fiancee, pop star Mariah Carey.
It is unclear if Mr Packer will attend the meeting in person, his first since rejoining the board this year.
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