Tabcorp chair, CEO head for the exits after investor coup

Australian lottery and betting operator Tabcorp Holdings has undergone a senior management shakeup, apparently following an informal vote of non-confidence by some major shareholders.

On Thursday, Tabcorp filed papers with the Australian Stock Exchange announcing a plan to replace its current chairperson Paula Dwyer with Steven Gregg (pictured left), a Tabcorp non-executive director since 2012. Dwyer plans to step down on December 31.

Tabcorp also said CEO David Attenborough would follow Dwyer out the door sometime in the first half of 2021, although the company is still conducting the global search to identify the individual that will fill Attenborough’s corner office.

Dwyer said that with the company’s tortured integration of rival Tatts Group nearly finished, “the time is now right for a new chairman to lead” Tabcorp into the future. Similarly, Attenborough cited the near-completion of the Tabcorp-Tatts combo as providing the signal that it was time for him to push on.