Subject to the necessary approvals, McCann will officially join Crown as CEO on 1 June, replacing Ken Barton who stepped down in February. McCann brings over 25 years of executive experience, currently serving as the group chief executive of Lendlease Corporation.
McCann’s retirement from Lendlease was postponed last year due to the Covid-19 pandemic. However, he will officially leave the Lendlease board on 31 May and assume his new role at Crown on 1 June.
Prior to joining Lendlease, McCann held senior leadership roles at ABN AMRO and Bankers Trust.
McCann expressed enthusiasm about joining Crown at this crucial time, stating, “I see a real opportunity to help drive significant shareholder value as the company addresses its challenges and emerges from the constraints of the pandemic.”
Helen Coonan, interim executive chairman at Crown, praised McCann’s appointment, emphasizing his strategic, financial, and corporate governance expertise, as well as his ability to build strong employee engagement and drive cultural change.
In addition to McCann’s appointment, Crown recently received a merger proposal from Star Entertainment Group and a revised takeover offer from Blackstone Group.
Star’s proposal outlines the creation of a Aus$12.0bn business, with pro forma ownership of the merged entity at 59% for Crown shareholders and 41% for Star shareholders.
Blackstone’s revised proposal increases its previous offer and follows its acquisition of a stake from Melco in April 2020.
