Tabcorp share price up 5% as CEO and chair succession plan announced

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The Board of Tabcorp Holdings Limited (Tabcorp) on Thursday announced that it has selected Steven Gregg to succeed the Chairman Paula Dwyer who will retire from the Board on 31 December 2020. Mr Gregg is currently a Non Executive Director and Chairman of the People and Remuneration Committee.

Tabcorp also announced that David Attenborough will retire as Tabcorp’s Managing Director & Chief Executive Officer in the first half of calendar year 2021. A global search for Mr Attenborough’s successor is underway.

“With the integration of Tatts nearing completion, the time is now right for a new Chairman to lead the Tabcorp Board into the future. 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 & CEO,” said Ms Dwyer.

Mr Gregg has been a Director of Tabcorp since 2012. He is an experienced and accomplished non-executive director and public company Chairman with extensive leadership experience across a range of industries.

“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,” Ms Dwyer said.

Mr 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 our customers, business partners, employees, governments
and the broader community,” said Mr Gregg.

“The combination with Tatts is now largely complete and, as such, now is the right time to start the process to appoint the next CEO who can work with the Board and management team to take the Company forward,” said Mr Attenborough.

“Until then, I am totally committed to steering Tabcorp through the COVID-19 pandemic and ensuring that our businesses are best positioned for the future.”