ASX boss Elmer Funke Kupper has resigned as the federal police investigate his former role as chief executive of Tabcorp.
Mr Funke Kupper, who has served as the chief executive of the ASX since October 2011, stepped down amid an investigation into his time at Tabcorp.
“The ASX board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter,” ASX chairman Rick Holliday-Smith said.
“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.”
Mr Funke Kupper served as the chief executive of Tabcorp in 2009 when a $200,000 payment was allegedly made to the family of Cambodian Prime Minister Hun Sen.
It came at a time when the company was attempting to gain an online gambling licence in the country, The Sydney Morning Herald reported.
Mr Holliday-Smith will assume the role of chief executive until a replacement is found.
Investor confidence is on the rebound and the ASX hit a 12-year high on Monday. But it’s not all good news for the Australian economy. ...
While the Asia-Pacific region, excepting Japan, saw the world’s strongest dividend growth in the past decade, Australia has barely shown a...
One fund manager will release a new exchange-traded fund that will provide investors access to one of the fastest growing economies in the w...