Operator News
Australia – Star Entertainment appoints David Foster as new Chairman
By Phil - 22 March 2023
The Star Entertainment Group has announced that Ben Heap will retire as Chairman and as a Non-Executive Director, effective March 31 2023, and that David Foster, who joined the Board on December 15 2022 after receiving all necessary regulatory approvals, will become Chairman effective from that date.
Mr Heap said: “The Board has evolved in a timely but measured way over the past 12 months. In addition to our recently appointed Managing Director & CEO, Robbie Cooke, four experienced Non-Executive Directors have joined the renewed Board with an additional director awaiting final regulatory approval.
“I would like to express my appreciation to the Board and management for their continued support during my tenure as Chairman. I have every confidence The Star will be a powerhouse of the Australian tourism and entertainment sectors for decades to come, employing thousands of people across stunning locations in Sydney, Brisbane and the Gold Coast.”
Mr Foster said: “Ben has played a pivotal role over what has been a challenging period for The Star. He provided leadership and stability at a critical time, which included overseeing the appointment of our new CEO, renewal of the Board and a re-set of the balance sheet.
“These were important and fundamental steps that have now been completed as the Company rebuilds towards an exciting new era. I am delighted to assume the role of Chairman as we continue with an unwavering focus on earning back the trust of the community.”
Mr Foster’s appointment to The Star Board was announced on 15 August 2022. Mr Foster was an observer to The Star Board until receiving regulatory approvals four months later. Mr Foster forged a career of more than 25 years in the financial services sector, including five years as Chief Executive Officer of Suncorp Bank where he had responsibility for navigating the bank through the global financial crisis. Mr Foster retired as CEO of Suncorp Bank at the end of 2013.
An experienced Chairman and Non-Executive Director, he has served on boards across a diverse range of industries including financial services, retail, government, education and professional services.
Mr Foster currently holds various ASX-listed company directorships including Bendigo and Adelaide Bank Ltd, an ASX 100 financial services company, and is Chairman of G8 Education Ltd, the largest ASX-listed childcare and early education operator.
