Incumbent chief financial officer Adam Newman will step down next July
The Lottery Corporation (TLC) is looking for a new finance chief after Adam Newman advised the company’s Board that he will step down next July.
Newman has led TLC’s finance function since 2022, overseeing the demerger from Tabcorp and the establishment of TLC as a standalone listed company.
Most recently, he led the company’s inaugural Australian debt raising, supporting the funding of the Victorian Public Lottery Licence extension and strengthening the company’s financial flexibility.
He will step down as TLC’s chief financial officer on 1 July after deciding to pursue a portfolio career, including board and non-executive director roles.
Newman will remain in the role until that date, providing continuity while the Board undertakes a process to appoint his successor.
“Adam has made a significant contribution to TLC since the demerger from Tabcorp, helping to establish the company as a standalone ASX-listed business and building the financial foundations to support our long- term success through a period of significant change,” said TLC managing director and CEO Wayne Pickup. “On behalf of the Board and the executive team, I thank Adam for his leadership and contribution to TLC and wish him every success in the next chapter of his career.”
Commenting on his departure, Newman said: “It has been a privilege to help build TLC as a listed company and to work with the finance team, the executive and the Board. I’m proud of what we have achieved and remain committed to supporting a smooth handover to my successor.”
Shares in The Lottery Corporation Ltd (ASX:TLC) closed 3.77 per cent higher at A$4.96 per share in Sydney Thursday.