Steve McCann to Move from Lendlease to Crown
Crown Resorts (ASX: CWN), the Australian land-based operator, has announced the appointment of Steve McCann as its new chief executive and managing director.
He will officially join Crown on 1 June subject to the receipt of certain probity and regulatory approvals. McCann is set to replace Ken Barton, who stepped down as CEO in February following an inquiry into the operator that found it “unsuitable” to operate a casino in Sydney’s Barangaroo region.
McCann has more than 25 years’ experience in executive roles and he is currently the group chief executive of the real estate and investment group Lendlease Corporation (ASX: LLC), where he has been for more than ten years.
McCann was due to retire from Lendlease last year but stayed to help with the group’s response to the coronavirus pandemic. Now, he will officially step down from the board on 31 May and start at Crown the next day.
Speaking of his new appointment, McCann said, “I am looking forward to joining Crown at a crucial time for the organisation 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.”
The appointment has been welcomed by Helen Coonan, who will be continuing as interim executive chairman until McCann receives the necessary approvals.
Recognised 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.