Star Group CEO steps down over fitness concerns

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Australian casino operator The Star Entertainment Group Ltd announced on Friday that Robbie Cook had resigned the same day as the group’s chief executive officer and managing director. “David Foster will take on additional duties as executive chairman while seeking a permanent CEO,” the company said in a filing.

“Mr. Cook and the board believe the change in leadership is in the best interests of the company right now,” the company said.

The company said Cook’s continued leadership “will not help the New South Wales Independent Casino Council (NICC) decide to find the right star to hold a casino license in that Australian state.”

Mr Cook will remain a consultant to The Star for six months “to enable an orderly leadership transition and provide continuity across business activities,” The Star added.

The casino company also announced that the group’s chief financial officer, Christina Kasibuba, has also resigned. “Neale O’Connell will replace it on an interim basis. Mr. O’Connell, who previously served as CFO of Australia-based Tatts Group, will report to Mr. Foster.

The company’s license for its flagship Sydney casino in NSW (pictured) has been suspended “indefinitely” since October 2022, and placed under state supervision.

The NICC is currently conducting a second investigation into whether The Star is fit to hold a casino license in the state. Attorney Adam Bell, who led the first public inquiry, will hold a public hearing as part of the second investigation.

As a result, NICC plans to extend Nicholas Weeks’ term as special manager of The Star Casino “until September 30, 2024, the company said.

The company’s licenses for two casinos in Queensland state, Treasury Brisbane and Star Gold Coast, were also suspended in December 2022 and placed under state supervision.

Mr Weeks, head of Wexted Advisors, a Sydney-based business consultancy specialising in corporate restructuring, was appointed casino operations manager for The Star in Queensland.

According to Friday’s announcement, Mr Foster said the casino operator was “absolutely committed to being deemed fit to hold a casino licence in New South Wales and Queensland.”

In prepared remarks, Mr Cook said continuing as group CEO of The Star “will not help NICC decide to find The Star to hold a casino license in New South Wales.”

He added: “In this situation, a shift in leadership provides the best opportunity for businesses to navigate the regulatory pressures they face. I take solace in what I’ve achieved as a team over the last 16 months, and I’m confident the company is now on the right track.”

BY: 무료슬롯사이트

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