Crown Resorts has revealed that effective July 1, 2024, John Borghetti AO will assume the position of New Crown Resorts Chair. The appointment follows William McBeath’s decision to resign from his role as Chair. Although he will continue to serve as an independent non-executive director.
Reflecting on William McBeath’s Contributions
Since taking on the role in July 2022, after Blackstone’s takeover of Crown, William McBeath has been instrumental in steering the company through a period of significant change and ensuring adherence to regulatory mandates. Under his stewardship, Crown Melbourne and Crown Sydney successfully maintained their operational licenses, while Crown Perth saw notable improvements. McBeath’s guidance was pivotal in maintaining the company’s commitment to secure and ethical operations. Concurrently advancing and refining the entertainment offerings available to patrons.
Leadership and Governance
With a distinguished career spanning nearly five decades in the aviation sector, John Borghetti AO has contributed his expertise to numerous boards. His recognition as a Member of the Order of Australia in 2017 highlights his significant impact on aviation and tourism. Borghetti’s comprehensive experience in operations, leadership, and governance is a cornerstone for Crown’s commitment to maintaining safe, responsible practices while simultaneously expanding and improving its entertainment offerings.
Strategic Direction and Expansion
Borghetti emphasises the Board’s dedication to lawful, secure, and financially sound operations, with a strategic focus on positioning the company for prospective expansion. This direction is underscored by Crown Sydney’s successful retention of its casino license. Which was supported by a significant investment of AU$200m ($133m) in operational improvements.
Recent Dynamics and Obstacles
Facing intense scrutiny in December 2023, Crown Resorts was under the regulatory spotlight due to allegations against CEO Ciaran Carruthers and the subsequent downsizing of its workforce by 1,000 positions. Amidst these hurdles, Borghetti’s induction is perceived as a beneficial development, introducing a respected figure with a proven history in executive leadership and corporate stewardship.
Conclusion
The induction of John Borghetti AO into the role of Chair at Crown Resorts represents a pivotal moment for the organisation. Possessing a wealth of knowledge and proficiency, Borghetti is aptly equipped to steer Crown Resorts during its forthcoming period of expansion and progression. Amidst the evolving complexities of the entertainment sector, the strategic guidance provided by Borghetti will be instrumental in maintaining Crown’s prominence within the industry.
