ASX CEO quits as Tabcorp corruption scandal rumbles on

Source: ASX

Today the ASX Board accepted the resignation of Mr Elmer Funke Kupper as Managing Director and CEO of ASX Limited.

His resignation is effective immediately.

Mr Funke Kupper has been ASX Managing Director and CEO since 6 October 2011.
The Board has decided that ASX Chairman, Mr Rick Holliday-Smith, will perform the role of Executive Chairman while a national and international executive search is conducted for the new ASX Managing Director and CEO.

ASX Chairman, Mr Rick Holliday-Smith, said “We have an experienced senior executive team who will work with me to manage the business while we search for a new CEO.
“The ASX Board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter - and not have them interfere with the important role of leading the ASX. The Board has also decided that Elmer will be paid in lieu of the notice period in his contract, 2016 pro-rata STI, and the 2014 and 2015 deferred STI on 1 July 2016 and 1 July 2017 respectively.

“Elmer has demonstrated leadership and energy during his time at ASX. He hands over a stronger team and a core franchise well positioned for future opportunities. His legacy is a globally competitive, more externally focused company, which is committed to innovation and investment in the customer services and infrastructure that are at the heart of Australia’s financial marketplace.” Mr Holliday-Smith said.
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