Sydney-indexed lottery issuer The Lottery Corporation (TLC) has appointed Doug McTaggart as its new chairman.
McTaggart will update Steven Gregg, who introduced closing October that he might retire as chairman and director to sign up for Australia’s Westpac Banking Corporation (WBC).
Taking over as chairman on 1 March, McTaggart has served at the TLC Board as a non-government director considering the fact that October 2022 and is presently chairman of TLC’s Risk and Compliance Committee.
“It has been a privilege to function TLC’s chairman, and to be a part of its status quo as a standalone ASX50 organization,” Gregg said. “Setting TLC up for fulfillment has been the Board’s precedence over my tenure. The Board has overseen the advent of the organization’s purpose, imaginative and prescient and principles, the improvement of TLC’s company method and the status quo of capital allocation and danger control frameworks amongst different matters. It has additionally overseen the big challenge of TLC’s operational separation from Tabcorp.
“As I flagged in October 2023, I even have made the choice to retire from TLC given the dedication required of any such huge function at Westpac. TLC is now entering into its subsequent section and progressing to supply towards its method. The Board and I accept as true with that Doug is the proper chairman to take the organization ahead and I even have complete self belief that the destiny for TLC is bright.”
Commenting on his appointment, McTaggart said: “I’m honoured to be elected TLC’s chairman. TLC is a world-elegance lottery operator. The organization has an appealing portfolio of licences and operates video games with full-size public appeal.
“I’m searching ahead to TLC constructing on its sturdy begin as a standalone ASX-indexed organization and handing over towards a plan that has generated long-time period boom and returns for shareholders, governments and our enterprise partners.”
Shares in The Lottery Corporation (ASX:TLC) closed 0.forty four in keeping with cent better at AUD$4.sixty one in keeping with proportion in Sydney Wednesday.