Tabcorp Names Finance Heavyweight Mark Howell as Its New CFO

Australian gambling and betting giant Tabcorp has strengthened its team with the appointment of Mark Howell as its new chief financial officer. Boasting years in finance-related positions, Howell has all the necessary experience to guide the wagering juggernaut’s business.

Howell is currently serving as general manager of liquor finance and network optimization at the Coles Group, a major Australian supermarket chain. He joined the company back in 2017, shortly before its separation from Wesfarmers Limited. Prior to taking his current position, Howell served as Coles’ general manager of group strategy, business development and investor relations.

Howell’s earlier experiences include over four years with Queensland Venue, an incorporated Joint Venture between Coles and Australian Venue Co, which operates restaurants and alcohol stores across the state.

Before joining Queensland Venue, Howell had a short stint as director at the financial advisory firm Rothschild and Co. Before that, he served the banking, securities and investment management firm Goldman Sachs for nine years.

In his new position, Howell will replace the outgoing Daniel Renshaw. The new appointee is set to step into the office by June 2024.

Howell Comes at the Right Time

Tabcorp’s managing director and chief executive officer, Adam Rytenskild, welcomed Howell on board, praising him as a perfect fit for the company. According to Rytenskild, Howell’s appointment comes just at the right time to help with the group’s transformation.

He [Howell] is passionate about our growth story and dynamic in his thinking.

Adam Rytenskild, CEO & MD, Tabcorp

The chief executive added that Australia’s wagering sector is very competitive, which is why companies need to be backed by people with robust financial experience. Luckily, Howell comes from an “equally competitive customer-focused industry,” Rytenskild pointed out.

Tabcrop’s chief executive concluded that the new hire’s experience leading finance teams at Coles and working closely with investors will be invaluable to the gambling company.

Speaking of Tabcorp’s finances, a month ago, shareholders expressed their disagreement with the company’s remuneration plan. More than a third of the shareholders expressed their disapproval, causing a 4% dip in the company’s stock at the time.

In September, Tabcorp was handed a number of fines in Victoria and New South Wales.