Adam Rytenskild had run the wagering group since 2022. He said he did not recall making the comments but had “regrettably agreed to resign”
is leaving the wagering giant after the board launched an investigation into whether he used inappropriate and offensive language.
Tabcorp chairman Bruce Akhurst will become executive chairman until a replacement for Mr Rytenskild is found. The search is being undertaken by Maritana Partners.“The board regrets that Mr Rytenskild’s employment has ended in this way and acknowledges his commitment to Tabcorp’s growth over more than two decades, including the last two years as MD & CEO and his contribution to the transformation of the company,” said Mr Akhurst.
Mr Akhurst said Mr Rytenskild’s exit would not affect the company’s strategy. “We have the depth and capability across the executive and the senior leadership team to continue our transformation,” he said. As chief executive, Mr Rytenskild attempted to transform Tabcorp from a retail wagering operation into a digital bookmaker. While the company operates a monopoly of betting stores in NSW, Queensland and Victoria, it has lost significant market share to international bookmakers including Sportsbet and Entain, which have attracted younger customers who place bets on mobile phone apps.
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