In a major step in overhauling its leadership, Australian casino operator Crown Resorts has named Steve McCann as its new CEO and managing director.
To date, McCann is the most visible face of Crown’s public rehabilitation in the wake of the Bergin Report, which deemed Crown unsuitable to run its casino in Sydney and caused similar investigations of other Crown casinos in Melbourne and Perth.
Since the report’s release in February, five Crown board members have stepped aside along with former CEO Ken Barton and General Counsel Mary Manos.
McCann has overseen real estate giant Lendlease Corp. for more than a decade, according to the Sydney Morning Herald. He will retire from the company’s board at the end of May and join Crown on June 1, pending regulatory approvals.
Helen Coonan, who assumed the role of executive chairman of Crown following Barton’s departure in March, will remain in her current role until then. “Steve is a first-class appointment for Crown and the right person to embed the ongoing reforms necessary to restore regulatory and public confidence in our operations,” said Coonan.
“Recognized as one of Australia’s most respected business leaders, Steve has a unique blend of strategic, financial and corporate governance expertise and a track record of building strong employee engagement and driving cultural change.
“During a comprehensive recruitment process, Steve was the clear choice from a quality field of prospective candidates. The board was looking for a CEO firmly committed to building on the momentum for change within our business and Steve is ideally placed to hit the ground running as our sweeping reform program takes hold.”
Commenting on his appointment, McCann said, “I am looking forward to joining Crown at a crucial time for the organization and see a real opportunity to help drive significant shareholder value as the company addresses its challenges and emerges from the constraints of the pandemic.”
In addition to his tenure at Lendlease, McCann has worked in funds management, investment banking and capital markets.
