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Ciarán Carruthers Announced as New CEO of Crown Resorts

Steve McCann has announced that he is stepping down as the CEO of Crown Resorts (OTCMKTS: CWLDY) following its $8.9 billion takeover by the US investment firm Blackstone.

In September of this year, McCann, who also serves as the CEO of Crown Melbourne, is to be replaced by Ciarán Carruthers, the Wynn Macau Limited Chief Operating Officer. McCann has only been in the role for a year, but he was appointed to fill the void when Ken Barton departed as CEO following the Bergin Inquiry into the casino operator.

During his time as CEO, McCann oversaw numerous changes at Crown Resorts company, implemented a number of operational improvements, and managed to secure approval for Crown Sydney to begin gaming operations.

Chris Tynan Blackstone Head of Real Estate Australia

We thank Steve for his leadership over the last 13 months, including implementing a strong reform and remediation plan and improving the culture of Crown Resorts. We wish the best for him as he pursues other opportunities. Blackstone is committed to investing in Crown, helping it realize its true potential as a world-class leader in travel and leisure. Part of that involves bringing in global expertise to complement the existing skills within the business. Ciarán Carruthers is a highly experienced and respected industry veteran who shares our commitment to continuing the transformation at Crown and delivering an exceptional experience for all visitors.

Chris TynanBlackstone Head of Real Estate Australia

Speaking about his departure, McCann said that he is “incredibly proud” of what has been achieved during his tenure as CEO.

McCann said, “I came into this role at a very challenging time for Crown, and I will leave Crown proud that we have made a positive impact on the future of this business. I’d like to thank the hardworking board members of Crown who have provided me tremendous support, as well as every member of the team who has contributed their important part.”

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