Tabcorp names new chairman as CEO search begins

23rd July 2020 9:38 am GMT

Shares in Sydney-listed gaming operator Tabcorp gained almost 5 per cent Thursday after the company announced its next chairman and the start of succession planning for a new chief executive.

The leadership change will see Steven Gregg succeed Paula Dwyer as chairman on 31 December, with the company also beginning the global search process to find a successor to managing director and chief executive David Attenborough, who will step down in the first half of 2021.

Gregg has served as a non-executive director of Tabcorp since 2012 and is chairman of the board’s People and Remuneration Committee.

“With the integration of Tatts nearing completion, the time is now right for a new chairman to lead the Tabcorp board into the future,” Dwyer commented. “The appointment of Steven Gregg will provide continuity of leadership and an orderly transition as the company identifies and transitions to a new managing director and CEO.

“Steven’s contribution to the Tabcorp board has been significant, and his track record in stewarding complex companies navigating change, including CEO transitions, positions him well for success as the next chairman of Tabcorp.”

Commenting on his appointment, Gregg said: “I look forward to working with my board colleagues and executive team to realise the opportunities Tabcorp has following the Tabcorp-Tatts combination: to drive shareholder returns and the continued trust of customers, business partners, employees, governments and the broader community.”

Shares in Tabcorp Holdings Ltd. (ASX:TAB) closed up 4.93 per cent at AUD$3.62 per share in Sydney Thursday.

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