Tabcorp announces Brett Chenoweth as new chairman
Australia-focused Tabcorp has confirmed Brett Chenoweth as its new chairman following Bruce Akhurst’s decision to retire from the role.
Pickup Lottery Corporation
Chenoweth will formally assume the chairman role when Akhurst steps down after the group’s 2024 annual general meeting (AGM) on 23 October.
A highly experienced executive, Chenoweth has been a non-executive director of Tabcorp since 2022. He currently chairs the Risk, Compliance and Sustainability Committee.
He previously held senior positions across multiple companies, including a two-year tenure as CEO and managing director of Australian media group APN News and Media.
His career also includes time at Silverfern Group, Telecom Corporation of New Zealand, and Ecorp.
More recently, Chenoweth has focused on directorship and chairman responsibilities. He serves as a director of hospitality group EVT Limited and holds other unlisted roles, including chairman of Canberra Data Centres and Retire Australia, as well as director of software developer One New Zealand Group.
Continuing the transformation of Tabcorp
On his appointment, Chenoweth said he looks forward to advancing Tabcorp’s transformation. The company completed its demerger in 2022, separating lottery operations from wagering, media, and gaming services.
“The work over the past two years has been critical in establishing strong foundations and positioning us to capitalise when the market returns to growth,” Chenoweth said. “Further opportunities await, and I’m eager to work closely with CEO-elect Gill McLachlan and my board colleagues to unlock the shareholder value we know exists within this company.”
Chenoweth also commended outgoing chairman Akhurst, who has led the company since July 2027.
“I want to acknowledge Bruce for his exceptional leadership during the demerger and the creation of a new Tabcorp,” he added.
Akhurst will continue as a director with additional executive duties until the end of 2024, assisting with regulatory approvals for incoming CEO McLachlan.
“I’m proud of our achievements since the demerger,” Akhurst said. “We’ve moved quickly to transform Tabcorp into a faster, more innovative, and more responsive organisation than ever before. I personally congratulate Brett on his appointment as chair and will work closely with him to ensure a smooth transition. He is one of the finest business minds I’ve collaborated with, and I am pleased to hand over the chairmanship.”
Shares rise on news of new chairman
News of Chenoweth’s appointment led to a notable increase in Tabcorp’s share price yesterday (19 September).
Shares opened 5.8% higher at the time of writing, and earlier in the day, gains reached as much as 11.6%.
