Tabcorp board renewal: Brett Chenoweth appointed as chairman
Chenoweth will succeed Bruce Akhurst.
Australia.- Tabcorp has announced the appointment of Brett Chenoweth as chairman. He will replace Bruce Akhurst, who will retire at the conclusion of the company’s 2024 annual general meeting.
Chenoweth joined Tabcorp in 2022 as a non-executive director and currently chairs the Risk, Compliance, and Sustainability Committee. He has previously worked as CEO and managing director of APN News and Media Limited and as chairman of CDC Data Centres and Retire Australia.
According to Tabcorp, Akhurst will continue as a director with additional executive responsibilities until the end of the calendar year while managing director and CEO Elect, Gillon McLachlan, undergoes the necessary regulatory approvals process.
Akhurst was chairman during Tabcorp’s spin-off into two businesses. He was also responsible for overseeing the Victorian and Queensland level playing field reforms and led a significant transformation of Tabcorp’s technology, brand and digital offering.
He said: “I’m proud of our achievements since demerger. We’ve moved quickly to transform the company. We’re a faster, more innovative and more responsive organisation today than we have ever been. Over the last two years, we’ve laid some important foundations for growth by winning the Victorian Licence, achieving structural reforms, and launching a new TAB App.
“I’m so pleased to have secured the services of Gill as our CEO, who with a strong team, will take the company to the next level. With those major changes now complete, my job is done and the time is right to transition to a new leadership team. The wagering market has been challenging over the last year and I’m looking forward to watching Tabcorp grow in the next phase of its transformation as the market strengthens again.
“I want to personally congratulate Brett on his appointment as chair and I will work closely with him to ensure a smooth transition over the coming months. Brett’s one of the great business minds I’ve worked with and I’m very pleased to be passing the chairmanship over to him.”
Chenoweth added: “I’m pleased to continue the company’s transformation. A significant amount of heavy lifting has been completed with the new TAB App, level-playing field reforms and a refreshed leadership team. The work done over the last two years has been critical in building solid foundations and positioning us to capitalise when the market returns to growth.
“I want to pay tribute to Bruce for his outstanding leadership during the Demerger and the creation of a new Tabcorp. Further opportunity awaits and I’m looking forward to working closely with Gill and my Board colleagues to unlock the shareholder value that we know lies within this Company.”
See also: Tabcorp posts full-year loss of US$951.1m
Justin Milne steps off as non-executive director
Tabcorp has also announced that Justin Milne, who joined the company as a non-executive director in 2011, will retire from the board. The company is currently looking for a replacement.
Milne said: “After more than a decade on the Board and with strong foundations laid post-demerger it’s a good time for Board renewal. I’ve seen a great many changes during my time at Tabcorp and the Company is now on a better footing to compete effectively in an evolving wagering market.”
Akhurst acknowledged Mr Milne’s contribution. “Justin has made a significant contribution to Tabcorp over a long period of time and will leave a lasting legacy. We thank him and we wish him the very best in his retirement.”
