The Star has announced that David Foster has resigned as director of the Board and that current interim Chief Financial Officer Neale O’Connell will be stepping in as acting CEO.
Chairman Anne Ward has also taken on additional responsibilities. Both O’Connell and Ward will carry out the duties until a new permanent group CEO and Managing Director are appointed.
The search for the new CEO and MD is underway and the company ‘expects to make an announcement in the near term’.
Due to the arrangement, O’Connell is set to receive an additional AU$40,000 per month (effective June 24th), while Ward will receive AU$20,000 per month (effective April 29th, when Ward was appointed as Chairman).
The news comes amongst The Star’s continued remediation efforts and a second Bell Inquiry into its suitability to maintain its casino license in Sydney.
