The Star Entertainment Group (ASX:SGR) has appointed Ms Anne Ward as Chairman of the Board, effective immediately, in a crucial move as the company continues to strengthen its leadership team during a turbulent phase.
Ms Ward will receive standard directors’ fees, as outlined in The Star’s remuneration report.
While Ms Ward adapts to her new role Mr David Foster – Star Entertainment’s recently resigned executive chair – will continue his duties and remain on the Board for an interim period. Mr Foster will also retain his position as a director of other companies.
This managerial reshuffle comes during a troubling phase for the group, with multiple allegations and hearings made against it in the NSW senate. The casino and entertainment group is still facing a heavy penalty over allegations that it allowed VIP punters to launder millions of dollars over a period of several years.
The search for a permanent Group CEO began in March, reflecting The Star’s commitment to finding the right leadership to drive the company forward. The company believes these changes in leadership reflect The Star’s dedication to ensuring strong governance and effective management as it continues to confront challenges and opportunities in the industry.
SGR has been trading at 40 cents.