James Packer resigns from all 22 of his directorship positions

The Australian billionaire, James Packer, has resigned from his directorship roles from 22 companies in his home country.

Packer no longer holds board seats in Australia, Reuters reported, highlighting the billionaire’s withdrawal from entrepreneurship.

The businessman is a major shareholder of Crown Resorts, the casino operator, and is expected to have a net worth of $4.1bn, according to Forbes.

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On 27 June, Packer resigned from 20 directorship positions, including his private firm Consolodated Press Holdings (CPH).

Since then, the billionaire has resigned from two additional roles, creating a total of 24 Australian boards in 2018.

“The changes are largely administrative in nature and reflect attempts to modernize and simplify the corporate structures,” a CPH spokesperson wrote in email, Reuters claims.

Packer has been appointed a member of some of the nation’s largest companies, including Qantas Airways, Nine Entertainment, and Seek.