Crown Resorts chief executive Ciarán Carruthers is set to step down from the role after nearly two years. He’ll stay on until 31 December.
Multiple media outlets are reporting that president and chief operating officer David Tsai will replace Carruthers beginning 1 September. Tsai will fill the role until a permanent replacement is found.
Carruthers shepherded Crown through regulatory tumult and government sanctions over the last two years, according to the Financial Review. The casino violated anti-money laundering and counter-terrorism laws. Carruthers oversaw a restructuring that included cutting more than 1,000 jobs.
The announcement came about a month after Crown reshuffled its executive suite. At that time, Tsai, formerly the head of Crown’s Perth property, was moved into an executive role. Brian Pereira was elevated from CFO of Crown Perth to interim CEO while a search was undertaken and Nicole Pelchen took the role of chief technology officer. Gemma Allman was hired as chief government relations officer.
According to The Nightly, Carruthers said “now is an appropriate time to depart and pursue other interests”. He reportedly also told his staff that he was proud of the work they had done over the last two years.
Carruthers views tenure as a success
“We have successfully steered Crown Resorts through a period of intensive transformation and remediation, culminating in Crown Melbourne and Sydney being deemed suitable by their respective state regulators and the Crown Perth transformation programme now well progressed,” he said.
Carruthers, an Irishman, was one of several high-profile casino executives brought on by Blackstone after it acquired Crown in 2022. The purchase was made for AU$8.9bn (£4.5bn/$6bn/€5.4bn). Carruthers joined after decades at casinos such as Wynn Macau.
Earlier this year, Carruthers expressed his confidence in Crown maintaining licenses in Sydney and Melbourne, which were both successful.
Crown it still awaiting the outcome of a review into its Perth operations.
Carruthers cleared in investigation
Carruthers’ time at Crown Resorts was not without its challenges. In December 2023, he was subject to an investigation over allegations that he had overruled security officers banning intoxicated customers.
It was claimed that he allowed patrons back into the company’s Melbourne Casino after they were removed by security. He was cleared of any wrongdoing the following February.
Casino officer Justin Casey is also due to end his role on 31 August, with plans to retire.
