As reported by Gaming Intelligence, Sydney-listed lottery provider Tabcorp has seen its shares increase by almost 5% following the announcement that Steven Gregg has succeeded Paula Dwyer as the group’s Chairman.
The leadership change, which will be effective as of December 31, was not the only announcement to come out of the Australia-based company, with Tabcorp also revealing the start of succession planning for a new Chief Executive who will take over from David Attenborough in the first half of 2021.
Having served as a non-executive director of Tabcorp since 2012, Gregg commented: “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.”
Although the departure of Attenborough comes as a surprise, the replacement of Dwyer was expected due to her revealing her desire to step down prior to Tabcorp’s 2021 shareholder meeting.
She concluded: “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 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.”
