The Lottery Corporation appoints Doug McTaggart as new chairman

Sydney-listed lottery provider The Lottery Corporation (TLC) has appointed Doug McTaggart as its new chairman.

McTaggart will replace Steven Gregg, who announced last October that he would retire as chairman and director to join Australia’s Westpac Banking Corporation (WBC).

Taking over as chairman on 1 March, McTaggart has served on the TLC Board as a non-executive director since October 2022 and is currently chairman of TLC’s Risk and Compliance Committee.

“It has been a privilege to serve as TLC’s chairman, and to be part of its establishment as a standalone ASX50 company,” Gregg said. “Setting TLC up for success has been the Board’s priority over my tenure. The Board has overseen the creation of the company’s purpose, vision and principles, the development of TLC’s corporate strategy and the establishment of capital allocation and risk management frameworks among other matters. It has also overseen the significant task of TLC’s operational separation from Tabcorp.

"As I flagged in October 2023, I have made the decision to retire from TLC given the commitment required of such a large role at Westpac. TLC is now moving into its next phase and progressing to deliver against its strategy. The Board and I believe that Doug is the right chairman to take the company forward and I have full confidence that the future for TLC is bright.”

Commenting on his appointment, McTaggart said: “I’m honoured to be elected TLC’s chairman. TLC is a world-class lottery operator. The company has an attractive portfolio of licences and operates games with widespread public appeal.

“I’m looking forward to TLC building on its strong start as a standalone ASX-listed company and delivering against a plan that has generated long-term growth and returns for shareholders, governments and our business partners.”

Shares in The Lottery Corporation (ASX:TLC) closed 0.44 per cent higher at AUD$4.61 per share in Sydney Wednesday.