The Star Entertainment Group confirms board renewals
David Foster has joined The Star Board as an independent non-executive director.
Australia.- The Star Entertainment Group has announced in a company filing that David Foster has been appointed as an independent non-executive director following regulatory approval. The company had named Foster to the position together with Anne Ward in August.
Foster worked for more than 25 years in the financial services sector, including over five years as chief executive officer of Suncorp Bank until 2013. Katie Lahey will stand down from the board effective Friday, December 30.
Interim chair Benjamin Heap said “Katie has made a significant contribution as a Director of The Star for the past nine years, including as Chair of the People, Remuneration and Social Responsibility Committee. The Board thanks Katie for her dedication to the role and wishes her well in her future endeavours.
“We also welcome David to the Board. He brings a breadth of experience, and highly relevant expertise, that will be instrumental as The Star seeks to return to suitability in Queensland and NSW.”
ASIC starts civil proceedings against Star Entertainment executives
The Australian Securities and Investments Commission (ASIC) has commenced Federal Court civil penalty proceedings against 11 current and former board members of The Star. It says they breached their duties under the Corporations Act by approving an expanded relationship with individuals with reported criminal links and failing to address money laundering risks.
ASIC is taking action against members of the Star’s board between 2017 and 2019: John O Neill (former chair), Matthias Bekier (former CEO), Kathleen Lahey, Richard Sheppard, Gerard Bradley, Sally Pitkin, Benjamin Heap and Zlatko Todorcevski.
