financetom
Business
financetom
/
Business
/
Star Entertainment chair David Foster latest to depart amid Sydney casino inquiry
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Star Entertainment chair David Foster latest to depart amid Sydney casino inquiry
Apr 28, 2024 6:52 PM

(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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Outback Steakhouse Parent Bloomin' Brands Faces Heat: Misses Sales Mark, 2024 Outlook Cut & More
Outback Steakhouse Parent Bloomin' Brands Faces Heat: Misses Sales Mark, 2024 Outlook Cut & More
Nov 9, 2024
Bloomin’ Brands, Inc. shares are trading lower on Friday. The company reported third-quarter adjusted earnings per share of 21 cents, beating the street view of 20 cents. Quarterly revenues of $1.038 billion (down 3.8%) missed the analyst consensus of $1.042 billion. The decrease in total revenues was primarily due to lower comparable restaurant sales, the impact of foreign currency translation...
Update: NRG Energy's Q3 Adjusted EPS Rises, Revenue Declines; Increases 2024 Guidance
Update: NRG Energy's Q3 Adjusted EPS Rises, Revenue Declines; Increases 2024 Guidance
Nov 9, 2024
08:48 AM EST, 11/08/2024 (MT Newswires) -- (Updates with 2024 guidance in fourth paragraph and headline.) NRG Energy ( NRG ) reported Q3 adjusted earnings Friday of $1.90 per diluted share, up from $1.57 a year earlier. One analyst surveyed by Capital IQ expected $1.95. Revenue for the quarter ended Sept. 30 was $7.22 billion, down from $7.95 billion a...
Global money market funds saw large inflows on election caution
Global money market funds saw large inflows on election caution
Nov 9, 2024
(Reuters) - Global money market funds attracted sharp inflows in the week to Nov. 6 as investors sought safety ahead of the U.S. presidential election and the Federal Reserve's policy meeting. Investors racked up a massive $127.44 billion worth of global money market funds during the week, which was their largest weekly net purchase since Jan. 3, according to LSEG...
PNC doubles down on branch expansion plan with additional $500 million investment
PNC doubles down on branch expansion plan with additional $500 million investment
Nov 9, 2024
(Reuters) - PNC Bank said on Friday it will increase its investment in branch expansion by an additional $500 million to open over 100 new locations and renovate 200 existing ones, doubling down on efforts to reach customers through physical locations. WHY IT'S IMPORTANT Though digital banking and online payment solutions have reduced reliance on in-branch banking in recent years,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved