Business
Crown boss withheld ‘daily updates’ to Packer from other shareholders – Sydney Morning Herald
The commissioner leading a NSW inquiry into Crown has labelled revelations as ‘extraordinarily troubling’ as the casino group’s CEO conceded he should have told shareholders the truth about financial updates going to James Packer.
Mr Packer, who owned 46 per cent of the company at the time, responded to the 2019 full-year forecast by saying that Mr Barton and other executives had their “heads in the sand”, that he was “sick of never meeting the plans” and warned them to “make sure, for you own sake, we achieve the financial year 2020 plan”.
The inquiry was played a recording of Crown’s October 2019 AGM, during which shareholder activist Stephen Mayne asked the group’s independent directors to explain what information Cro…
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