The board of Tabcorp Holdings has confirmed the appointment of Mark Howell as the new Chief Financial Officer (CFO) of the ASX-listed sports betting and racing media group.
Subject to regulatory approvals, Howell will take over the role ‘before the end of June 2024’ and will replace Daniel Renshaw, who announced his departure from Tabcorp’s executive leadership team in September, alongside the publishing of the firm’s Q3 results.
Howell joins Tabcorp from supermarket retailer Coles Group, where he served as General Manager for Network Optimisation, overseeing the commercial distribution and delivery for a network of more than 850 Australian supermarkets.
An expert in financial planning for mass-market brands, Howell has held further executive roles at investment banks Rothschild and Goldman Sachs in Australia and New York.
Welcoming the appointment, Tabcorp Group CEO Adam Rytenskild said: “Mark is the perfect fit for Tabcorp as we deliver our transformation. He’s passionate about our growth story and dynamic in his thinking.
“Wagering is one of the most competitive industries in Australia, and Mark comes from an equally competitive customer-focused industry. His experience leading finance teams at Coles and working closely with investors will be invaluable moving forward.”
Overseen by Rytenskild, Tabcorp’s executive team continues to execute the firm’s Genesis Reorganisation programme. The strategy was implemented following the demerger from Tatts lotteries and aims to return Tabcorp to its former place as Australia’s leading bookmaker across all sports wagering verticals.
Corporate leadership has implemented a new ‘TAB25 vision‘ – a three-year strategic initiative aimed at achieving a “30% Digital Revenue Market Share, a 10% return on invested capital, and an operating expenditure of $600m–$620m by the full-year 2025 trading”.