Star Entertainment chair David Foster latest to depart amid Sydney casino inquiry
10:16 pm Sunday, April 28th, 2024
(Reuters) -Star Entertainment said on Monday Chairman David Foster has stepped down just more than a year into the role, adding to an exodus of senior management at the beleaguered Australian casino operator.
Foster, who became chairman in March 2023, took over additional executive duties late last month after Chief Executive Officer Robbie Cooke, and finance officer, Christina Katsibouba, announced their exit.
Foster will continue with his executive duties for an interim period as the search for a permanent CEO continues, Star said.
Anne Ward, an independent and non-executive director who was appointed to the Star board in November 2022, will take over as chair, effective immediately.
The departures come at a time when the casino operator is facing a second inquiry into its Sydney operations after a license to operate the casino was suspended in October 2022, with the regulator “not satisfied” with the company’s progress on its remedial measures.
Earlier this month, Jessica Mellor, chief executive of Star Gold Coast casino in Queensland – the casino’s youngest and first female chief – announced her departure without providing any reason.
Shares of the company were trading 3.2% higher at A$0.4025, as of 0102 GMT. Star’s shares have lost 22.3% so far this year.
(Reporting by Sameer Manekar and Rishav Chatterjee in Bengaluru; Editing by Matthew Lewis, Kim Coghill and Sherry Jacob-Phillips)
