ASX chief executive Elmer Funke Kupper has resigned as the federal police investigate his former role as CEO of Tabcorp.
Mr Funke Kupper, who served as the chief executive of the ASX from October 2011, stepped down amid an investigation into his time at Tabcorp.
"The ASX board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter," said ASX chairman Rick Holliday-Smith.
"Elmer has demonstrated leadership and energy during his time at ASX. He hands over a stronger team and a core franchise well positioned for future opportunities."
Mr Funke Kupper was the chief executive of Tabcorp in 2009 when a $200,000 payment was allegedly made to the family of Cambodian Prime Minister Hun Sen.
The payment came at a time when the company was attempting to gain an online gambling licence in the country, The Sydney Morning Herald reported.
Mr Holliday-Smith will assume the role of chief executive until a replacement is found.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 15 Aug 2018AFA reveals Female Excellence in Advice finalistsBy Reporter
- 15 Aug 2018CFS ‘retained’ adviser commissions: RCBy Killian Plastow and Tim Stewart
- 15 Aug 2018Suncorp urged advisers to maintain commissionsBy Jessica Yun
- 15 Aug 2018Hostplus spent $260,000 on tennis ticketsBy Tim Stewart
- 14 Aug 2018RC challenges NAB on ASIC interactionsBy Killian Plastow
- 14 Aug 2018Judgement issued in DomaCom SMSF appealBy Miranda Brownlee
- view all