ASX MD and CEO Dominic Stevens has announced his intention to retire from the market operator this year.
Mr Stevens originally joined ASX as an independent non-executive director in December 2013 and was appointed CEO in August 2016.
ASX said that a global search for a new CEO will commence with the company’s board assisted by executive search firm Egon Zehnder.
Meanwhile, Mr Stevens will remain as CEO until the commencement of his successor.
“He will leave ASX in a strong financial and operational position, and with the transformation of critical systems, platforms and infrastructure complete or nearing completion,” said ASX chairman Damian Roche.
“The replacement of CHESS is progressing well, with the fully integrated industry test environment open and operating successfully. Dominic looks forward to transitioning with the new CEO to help them to come up to speed on this key project.”
Mr Roche said that Mr Stevens had guided ASX through “a period of major change and challenge” and had driven the execution of its goal to build an exchange for the future.
ASX said that the milestones achieved during Mr Stevens’ tenure included transforming the company’s technology to contemporary systems and platforms, improving its operating resilience and expanding its focus on technology.
Commenting on his departure, Mr Stevens said it was an honour to serve as CEO and he expressed his thanks to the ASX team.
“I am proud of what we have accomplished for our customers, staff, shareholders and our industry. Now is the appropriate time for a new CEO to be transitioned into the company and to take charge of the next phase of ASX’s growth and innovation,” he said.
“My plan is to retire from executive roles after leaving ASX. In the meantime, I remain committed to the company and to ensuring my successor has time to get their feet under the table in preparation for the next chapter in ASX’s future.”
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.