The Star Entertainment Group has parted ways with more members of its leadership team, including its CFO and CCO. The latest set of changes was announced on December 29, coming two weeks after the departure of the company’s chief executive officer.
More Executives Leave the Team
In its latest ASX announcement, The Star confirmed that it has parted ways with its group chief financial officer, Frank Krile, who left the company with immediate effect. At the same time, the company announced the upcoming departure of its group chief operating officer, Jeannie Mok, who is set to leave The Star at the end of the current month.
Company officials noted that the company is currently on the lookout for a new group chief financial officer. In its announcement, The Star promised to reveal more details in due course.
Bruce Mathieson, The Star’s chief executive officer, commented on the departures, wishing the outgoing members of his company’s leadership team all the best.
I would like to thank Frank and Jeannie for their significant contribution to the business and particularly their assistance in progressing our remediation plan. I wish them both well in their future endeavours.
Bruce Mathieson Jr., CEO, The Star Entertainment Group
The Star Confirms the Appointment of Mathieson as CEO
In the same announcement, The Star confirmed the appointment of Mathieson Jr. as its new group CEO and managing director. Mathieson Jr. was appointed to these positions shortly after the exit of Steve McCann, who stepped down on December 16.
The Star noted that Mathieson’s appointment is subject to receiving necessary outstanding regulatory and ministerial approvals in New South Wales and Queensland.
Mathieson was named CEO amid a troubled time for The Star, which has been facing continuous headwinds for the past few years. Earlier investigations uncovered instances of severe regulatory violations at some of the operator’s venues, prompting public and regulatory backlash and loss of investor trust.
While The Star has been working hard to implement a remediation plan and turn things around, its financial position has remained precarious. However, the casino company is now hopeful that Bally’s, which secured a majority stake in the Australian business, will help it to recover and restore investor confidence in its business.