The company Star Entertainment has revealed changes in leadership as they anticipate an investigation from the National Independent Certification Committee.
The Australian company Star Entertainment Group is preparing for a change in leadership once again. According to the company, its chief financial officer Christina Katsibouba will be leaving immediately. Additionally, CEO Robbie Cooke will be stepping down due to ongoing concerns about the company’s license suitability.
Departure of Katsibouba, O’Connell Appointed as Interim Chief Financial Officer
Katsibouba’s departure comes after nine years with Star. In her position, the CFO steered the finance function of the Australian casino and hospitality giant. She was also instrumental in the company’s capital structure initiatives in 2023, as Star began its journey to regain license suitability.
Based on the statement from the company, Katsibouba has chosen to depart in order to pursue other endeavors.
Neale O’Connell will step in as temporary CFO of Star starting on March 25 while the company looks for a permanent replacement. His impressive background in finance within the gaming and leisure sectors will aid him in overseeing Star’s operations. O’Connell most recently held the position of global CFO at Corporate Travel Management and previously served as Group CFO at Tatts Group. He has a successful history of managing high-profile mergers, including the integration of Tatts and Tabcorp.
David Foster, the head of Star, personally expressed his gratitude to Katsibouba for her contributions and warmly welcomed O’Connell to the team. He praised the interim chief financial officer for being a skilled and qualified replacement, with extensive experience and a noteworthy record of achievements.
Star operates in a highly regulated environment and is going through significant internal change. Neale’s expertise from previous roles will be highly valued.
David Foster, chair, Star Entertainment Group
James Cooke leaves the company due to concerns regarding his suitability for the position.
Currently, Robbie Cooke is leaving the company due to an upcoming investigation into Star’s business practices. The gambling company from Australia previously faced criticism for not meeting regulatory standards and has been making efforts to correct these issues.
Per the announcement, Cooke, who became CEO in November, has resigned from the position immediately. Chair Foster will temporarily assume his responsibilities until a new CEO is appointed. Cooke will also act as a consultant for the company for six more months. In addition, Anne Ward will serve as the main independent director.
Currently, the company is getting ready for a second examination of its business procedures. The Independent Casino Commission of New South Wales will assess whether Star has correctly put in place the corrective actions stated in the Bell review and if it is still suitable to retain its license.
Foster stated that Star is prepared to make improvements and is dedicated to proving their suitability for holding a casino license in New South Wales.
