James Packer has resigned from the board of his private family company, Consolidated Press Holdings.

It’s the billionaire’s latest step in winding back his work commitments after he resigned from the Crown Resorts board in March and checked in to a psychiatric hospital.

It’ll leave Packer’s empire in the hands of two important people.

Author of his unauthorised biography The Curse of the Mogul Aaron Patrick tells Chris Kenny the pair are “virtually unknown”.

Consolidated Press CEO Guy Jalland and Ernst and Young Finance Director will take over the holdings.

“This is a very big asset to put in the hands of these two people, so James must really really trust them.”

With the development of the Barangaroo precinct, Mr Patrick tells Chris he’s handed over complete responsibility for the casino project.

“There’s a lot riding on it. This is a $2-billion business they’re building there.

“So this is a really crucial time and a crucial development for James and that’s why I was really surprised to find out today that he was stepping down from the board.”

Click PLAY below to hear the full interview