Australia – Crown appoints expert in regulatory environment as new CEOBy Phil - 12 May 2021
Crown Resorts has appointed Steve McCann as Chief Executive Officer and Managing Director of Crown, subject to the receipt of probity and regulatory approvals.
Mr McCann is an experienced global executive with an acute understanding of the Australian corporate and regulatory environment after a 25-year executive career. Mr McCann is currently Group Chief Executive Officer of real estate and investment group Lendlease Corporation Limited (Lendlease), a role he has held for more than a decade. Before joining Lendlease in 2005, Mr McCann worked in senior leadership roles at ABN AMRO and Bankers Trust.
Mr McCann last year delayed his planned retirement from Lendlease to lead the Group’s response to the COVID-19 pandemic and will retire from the Board on 31 May 2021. Mr McCann will join Crown effective 1 June 2021 and will assume the role of Chief Executive Officer and Managing Director upon receipt of all probity and regulatory approvals. To ensure a seamless transition, Helen Coonan will continue to perform her executive responsibilities as interim Executive Chairman until Mr McCann has received necessary approvals to perform in his role as Chief Executive Officer and Managing Director.
Crown Executive Chairman Helen Coonan said: “Steve is a first-class appointment for Crown and the right person to embed the ongoing reforms necessary to restore regulatory and public confidence in our operations. 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.”
Steve 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.”