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| Version 2 | Version 3 |
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| Billionaire casino owner James Packer quits business interests | Billionaire casino owner James Packer quits business interests |
| (about 2 months later) | |
| Billionaire James Packer has resigned from 22 Australian company directorships in the past few weeks and no longer holds any board seats in his home country, according to corporate records, signalling his almost full retreat from public business life. | Billionaire James Packer has resigned from 22 Australian company directorships in the past few weeks and no longer holds any board seats in his home country, according to corporate records, signalling his almost full retreat from public business life. |
| The major shareholder of casino operator Crown Resorts, Packer cited mental illness as the reason for his quitting that firm’s board in March, following a tumultuous period in his life, which included a breakup with singer Mariah Carey and the failure of Crown’s expansion strategy. | The major shareholder of casino operator Crown Resorts, Packer cited mental illness as the reason for his quitting that firm’s board in March, following a tumultuous period in his life, which included a breakup with singer Mariah Carey and the failure of Crown’s expansion strategy. |
| His spokesman said at the time that he intended “to step back from all commitments” and Packer was believed to be in the US where he was receiving help for depression and anxiety. | His spokesman said at the time that he intended “to step back from all commitments” and Packer was believed to be in the US where he was receiving help for depression and anxiety. |
| On 27 June he quit the board of his private company Consolidated Press Holdings (CPH). Corporate records showed that he resigned from 19 other directorships on the same day, and has given up another two since. | On 27 June he quit the board of his private company Consolidated Press Holdings (CPH). Corporate records showed that he resigned from 19 other directorships on the same day, and has given up another two since. |
| Packer, whose net worth is estimated by Forbes at $4.1bn, has quit 24 Australian company boards this year. | Packer, whose net worth is estimated by Forbes at $4.1bn, has quit 24 Australian company boards this year. |
| “The changes are largely administrative in nature and reflect attempts to modernise and simplify the corporate structures,” a spokesman of CPH, Packer’s flagship business, said by email on Thursday. | “The changes are largely administrative in nature and reflect attempts to modernise and simplify the corporate structures,” a spokesman of CPH, Packer’s flagship business, said by email on Thursday. |
| His retreat is all the more remarkable because for generations – and most of the 20th century – the Packer family has been a fixture of Australia’s media business scene. | His retreat is all the more remarkable because for generations – and most of the 20th century – the Packer family has been a fixture of Australia’s media business scene. |
| The 50-year-old is one of Australia’s highest profile businessmen and a household name who has previously served on the boards of some of the country’s biggest companies, from Qantas Airways to Nine Entertainment and Seek, where he was an early investor. | The 50-year-old is one of Australia’s highest profile businessmen and a household name who has previously served on the boards of some of the country’s biggest companies, from Qantas Airways to Nine Entertainment and Seek, where he was an early investor. |
| James Packer questioned by AFP over Israeli PM corruption investigation | James Packer questioned by AFP over Israeli PM corruption investigation |
| However, Packer has had a number of battles with depression. After the collapse of One-Tel in the early 2000s he stepped out of the limelight and was said to be dealing with a breakdown. He also experienced mental health issues after his split with his first wife, Jodi Meares, and again during the global financial crisis, when his business empire was hard hit. | However, Packer has had a number of battles with depression. After the collapse of One-Tel in the early 2000s he stepped out of the limelight and was said to be dealing with a breakdown. He also experienced mental health issues after his split with his first wife, Jodi Meares, and again during the global financial crisis, when his business empire was hard hit. |
| Packer’s father, Kerry, inherited media interests from his own father, Frank, in 1974 and built them into a publishing and television empire. James sold that business a decade ago in order to form casino firm Crown. He built it up before quitting as a director in 2015 amid heavily publicised personal upheaval, including a brief engagement to Carey. | Packer’s father, Kerry, inherited media interests from his own father, Frank, in 1974 and built them into a publishing and television empire. James sold that business a decade ago in order to form casino firm Crown. He built it up before quitting as a director in 2015 amid heavily publicised personal upheaval, including a brief engagement to Carey. |
| Packer rejoined Crown’s board a year later during a period of turmoil for the company when a number of its employees were jailed in China for alleged breach of gambling marketing laws there. | Packer rejoined Crown’s board a year later during a period of turmoil for the company when a number of its employees were jailed in China for alleged breach of gambling marketing laws there. |
| The Australian newspaper, which first reported Packer’s string of resignations, said he remains a director of CPH’s parent company, Consolidated Press International Holdings Limited, domiciled in the Bahamas. | The Australian newspaper, which first reported Packer’s string of resignations, said he remains a director of CPH’s parent company, Consolidated Press International Holdings Limited, domiciled in the Bahamas. |
| James Packer | James Packer |
| Gambling (Society) | Gambling (Society) |
| Gambling (Australia news) | Gambling (Australia news) |
| Mariah Carey | Mariah Carey |
| Depression | Depression |
| news | news |
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