Tabcorp Loses Head of Wagering

2nd December 2009 8:11 am GMT

Tabcorp's Robert Nason has announced his resignation as Managing Director Wagering effective December 31st 2009. Nason is said to have taken the decision amid growing frustration at the lack of regulatory process at state governments and the ongoing Productivity Commission inquiry into gambling which prevented him from focusing on core wagering issues.

After three years in his role at the Australian gaming and wagering giant, Nason leaves Tabcorp to take up a senior executive position in February 2010 with Telstra, Australia's leading telecommunications and media company, where he will lead a new Customer Satisfaction, Simplification & Productivity unit responsible for improving customer service.

During his time at Tabcorp, Nason was responsible for the development of Tabcorp's wagering products that support the racing industry and for Tabcorp's media businesses including Sky Channel and 2KY Radio.

According to media speculation, Nason had been frustrated and felt "tied up" and unable to focus on core wagering issues over the past twelve months, following a lack of regulatory processes with state governments and the ongoing Productivity Commission Inquiry into Gambling.

Prior to joining Tabcorp in April 2006, Nason served as Chief Executive Officer of Racing Victoria Ltd where he was responsible for the regulatory and commercial development of the state's horse racing industry.

"Robert has done a good job for Tabcorp," said Tabcorp CEO Elmer Funke Kupper. "He led the wagering business through the difficult days of equine influenza, improved operational performance and reliability and positioned the business well to succeed in a rapidly changing market place. We wish Robert all the best in his new role."

Funke Kupper will take over the day-to-day responsibility for Wagering until a new Managing Director for the division is appointed. A recruitment process is already underway and will involve a global search.

Shares in Tabcorp Holdings Limited (Co. Profile) (ASX:TAH) closed earlier today at AUD$7.22 per share in Sydney.

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