Tabcorp Holdings has confirmed that group Chief Executive David Attenborough will be stepping down in the first half of 2021.
Attenborough initially joined Tabcorp in April 2010 as managing director for wagering. He then became managing director and CEO following Tabcorp’s demerger of its former casinos business in June 2011, according to SBC News.
During his tenure as CEO, Attenborough led the firm’s AUS $11 billion merger with ASX lotteries and wagering rival Tatts Group (sanctioned December 2017) in a bid to form Australia’s outright market-leading gambling property.
Completing the complex merger at the start of 2019, Tabcorp investors had stated their disappointment that the group had underperformed to its enlarged expectations, delivering underwhelming market results and shareholder value.
Attenborough stated: “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.
“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.”
Further to Attenborough’s resignation, Tabcorp governance confirmed that Steven Gregg will succeed Paula Dwyer as Chairman of the group, as she steps down on 31 December 2020 – a decision formally approved at last year’s group AGM.
Gregg has served as a Director of Tabcorp since 2012, with the Tabcorp board praising his experience as a non-executive director and public company chairman with extensive leadership experience across a range of industries.
Commenting on his new position, Gregg said: “I look forward to working with my Board colleagues and executive team to realize 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.”
Dwyer added: “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.
“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.”
