ASX welcomes new CEO, director

Reject ShopThe Australian Securities Exchange Ltd (ASX) has appointed Reject Shop’s and Ozforex Group’s Melinda Conrad as a new non-executive director, and Dominic Stevens as managing director and chief executive as part of the company’s board renewal program.

Conrad will stand for election at ASX’s annual general meeting on September 28.

Conrad, who finished her MBA at Harvard Business School, is currently a non-executive director of OzForex Group Limited and the Reject Shop Limited, and has previously been on the boards of David Jones Limited and APN News and Media Limited.

She is also a director of the Centre of Independent Studies and the George Institute for Global Health, and a fellow of the Australian Institute of Company Directors.

Rick Holliday-Smith, ASX chair, said he is delighted Conrad has agreed to join the ASX board.

“She brings skills and insights as an executive and director from a range of industries, including the retail sector, financial services and healthcare,” he said.

“Her business strategy and marketing expertise will be particularly valuable to the ASX boardas we deepen our stakeholder engagement and develop future opportunities.”

Stevens has taken over as managing director and chief executive of ASX, following the resignation of Elmer Funke Kupper earlier this year.

Stevens, has been an independent non-executive ASX director since 2013 and has served on its Audit and Risk committee and on a number of its clearing and settlement boards.

“I am excited by the opportunity and responsibility the board has given me to lead ASX. ASX does operate at the heart of Australia’s financial markets. There is no organisation quite like it,” he said in a statement on Monday.

Stevens, who was CEO of Challenger from 2008 to 2012, takes over from ASX chair Holliday-Smith, who has been overseeing the business since Elmer Funke Kupper resigned as CEO and managing director in March.

“Dom’s long involvement in financial markets, his experience as a CEO and his time as a director means the ASX board is delighted and confident in making this appointment,” Holliday-Smith said.

“He is popular and highly-regarded by ASX’s board, staff and major stakeholders. Dom is ideally qualified to lead the company and build on ASX’s achievements.”

Funke Kupper’s departure came as Australian Federal Police revealed they were investigating his previous employer, Tabcorp (TAH), amid allegations the gaming business was involved in foreign bribery in Cambodia.

Funke Kupper is a former CEO of the gambling giant, and sat on Tabcorp’s board up until March.

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