Crown hires Wynn Macau’s COO as its new top boss after Blackstone buys it.
(Reuters) -Crown Resorts, an Australian casino company, named Ciarán Carruthers, the operations head of Wynn Macau (OTC:WYNMF), as its new CEO on Thursday. Carruthers will replace Steve McCann just a few weeks after private equity firm Blackstone bought Crown Resorts for $6.3 billion (NYSE:BX).
After taking over as CEO in June of last year, McCann led the company through a tough time when its licences were suspended or put under supervision as a result of investigations in three Australian states into allegations of ignoring rules against money laundering and bad governance.
He also oversaw the company’s sale to Blackstone, which was completed last month, and the return of its gaming licence for its Sydney flagship casino after a long-running scandal involving money laundering.
The company said that McCann would leave his job in September.
Crown has hired Carruthers, a manager with more than 30 years of experience in the gaming and hospitality industries around the world. He previously held executive positions at Sands China (OTC: SCHYY) and Southeast Asian casino resorts.
Blackstone’s head of real estate in Australia, Chris Tynan, said, “Blackstone is committed to investing in Crown. Part of that is bringing in global expertise to add to the skills already in the business. “
Crown also named Bill McBeath as chairman of the board, former Virgin Australia CEO John Borghetti as chair of its Sydney business, and John van der Wielen as chair of its Perth operations.