The Star Entertainment Group leadership update

The Star Entertainment Group Limited (ASX: $SGR) has announced the cessation of Mr David Foster's executive responsibilities and resignation as a director of the Board, effective from 21 June 2024. The company has progressed its recruitment process for a new permanent Group CEO and Managing Director and expects to make an announcement in the near term. In the interim, Mr Neale O'Connell, the current Interim Group Chief Financial Officer, has been appointed as Acting CEO, subject to regulatory approvals. Additionally, Chairman Anne Ward has assumed additional responsibilities on an interim basis since her appointment on 29 April 2024.

Executive commentary on leadership arrangements

The Star Entertainment Group is committed to ensuring a smooth transition in its leadership arrangements. The appointment of Mr Neale O'Connell as Acting CEO and the interim responsibilities assumed by Chairman Anne Ward demonstrate the company's focus on maintaining stability and effective governance during this period. We are confident in the progress of our recruitment process for a new permanent Group CEO and Managing Director and look forward to making an announcement in the near future.

Summary of leadership update and outlook

The Star Entertainment Group has announced the cessation of Mr David Foster's executive responsibilities and resignation as a director of the Board, with the company progressing its recruitment process for a new permanent Group CEO and Managing Director. In the interim, Mr Neale O'Connell has been appointed as Acting CEO, and Chairman Anne Ward has assumed additional responsibilities. The company is focused on ensuring a seamless transition in its leadership and governance, with a commitment to making an announcement regarding the new permanent Group CEO and Managing Director in the near term. The increased fees for Mr O'Connell and Ms Ward reflect the additional duties they have undertaken during this interim period. The Star Entertainment Group remains dedicated to maintaining effective leadership and governance as it moves towards the appointment of a permanent Group CEO and Managing Director.