His departure comes shortly after ASIC sued the sharemarket operator, alleging it misled investors about how badly the critical upgrade was going.
Already a subscriber?ASX chairman Damian Roche will retire next month after four years as head of the board of the sharemarket operator, a period marked by the failed roll-out of critical settlement and clearing infrastructure known as CHESS.
Australian Shareholders Association chief executive Rachel Waterhouse, who last October called for Mr Roche to leave within 12 months amid a governance crisis at the ASX, welcomed the move. He added he would oversee an “orderly transition” to a new chairman during his final term, without being specific about precise timing. This year, ASIC turned up the regulatory heat on ASX as it embarked on a second attempt to replace CHESS, including the legal action launched last month.
Mr Roche has presided over broader board renewal since the CHESS project ran off the rails, which also raised questions about whether he should have stood down sooner.
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