July 9, 2018 / 5:37 AM / 10 months ago

Australian billionaire James Packer quits own company amid illness

FILE PHOTO: Australian Businessman and founder of Australia's Crown Ltd James Packer gestures while answering questions at an evening business event in Sydney October 25, 2012. REUTERS/Tim Wimborne/File Photo

SYDNEY (Reuters) - Australian billionaire James Packer has quit the board of his private company Consolidated Press Holdings (CPH), a spokesman said on Monday, four months after he left the board of casino operator Crown Resorts Ltd citing mental illness.

Packer, 50, “has stepped off the CPH Board as he continues his recovery from illness”, a spokesman for Consolidated Press Holdings said in an email. CPH owns 46 percent of Crown, the world’s seventh-largest listed casino company.

The exit appears to complete Packer’s winding down from day-to-day corporate responsibilities following a tumultuous period.

The 50-year-old formed Crown after selling his late father’s media empire a decade ago, then built it up before quitting in 2015 amid heavily publicized personal upheaval including a brief engagement to singer Mariah Carey.

He rejoined Crown a year later during a period of turmoil for the company when a dozen and a half of its employees were jailed in China for alleged breach of gambling marketing laws there. He stayed with Crown for 14 months before quitting again in March.

Reporting by Byron Kaye; Editing by Gopakumar Warrier

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