James Packer has resigned from the board of the family business, Consolidated Press Holdings (CPH), as he focuses on recovering from mental health issues.

"For James Packer to resign from that board is a very significant matter and obviously comes after resigning from all public company boards," shareholder activist Stephen Mayne told the ABC.  "There are responsibilities that come with being a director and James Packer is offshore, he's seeking help and clearly he's putting all of his effort into his health and so he's withdrawn from all commercial interests, both public and private."

It's been an eventful few years for Mr. Packer, recently reaching a financial settlement with his sister Gretel, ending a relationship with singer Mariah Carey, and several years ago was involved in a fight with long-term friend David Gyngell.

Mr. Packer already stepped down from the Crown Resorts board in March, checking himself in to a mental health facility in Boston within days.