Borghetti, who got his start in the aviation industry at Qantas in 1973, became CEO and managing director of Virgin Australia in 2010 and ran the airline for around nine years.
He has been chair of Crown Sydney since Blackstone acquired Crown Resorts in June 2022.
Borghetti will take over from experienced Las Vegas operator William McBeath, who Blackstone installed when it bought the business. McBeath has held leadership positions at the likes of The Mirage, Bellagio and The Cosmopolitan on the famous Las Vegas strip.
“As chair, my priority was to lead the board and support the executive leadership team to successfully deliver the extensive regulatory and cultural reform and remediation program for Crown Resorts and to achieve suitability,” said McBeath.
“I am proud that both Crown Melbourne and Crown Sydney have retained their licences to operate during this time, and that the remediation work in Crown Perth is well progressed.
“Now is the appropriate time to appoint an Australian-based chair who will continue Crown’s focus on transformation, regulatory compliance, and safe and sustainable future growth.
“I am delighted that John Borghetti will continue this critical work as chair and lead the Crown Resorts board in its strategic development of Crown’s businesses in Victoria, New South Wales and Western Australia, working constructively with government and regulators.
“Mr Borghetti is a very highly regarded director and executive whose extensive operational, leadership and governance experience will ensure Crown continues to focus on safe and responsible operations whilst growing and enhancing its entertainment experiences for guests of Crown.”
Borghetti will take up his role on July 1 and remain as chair of Crown Sydney.
“I look forward to continuing the transformation of Crown Resorts, ensuring the company exceeds the expectations of all its stakeholders, including government, regulators, guests and team members,” said Borghetti.
“The board’s priority remains on compliant, safe, and profitable operations while ensuring we position the business for future growth.”
In recent months, Crown has been declared suitable to hold casino licences by regulators in both Victoria and New South Wales.
However the business announced in April that it will shed around 1,000 staff, due to “greatly reduced foreign tourism, a sharp decline in local workers in the city centres, and restrictions on gaming play in Sydney and Melbourne” according to Crown Resorts CEO Ciaran Carruthers.
