SBC News Voice of the Sports Betting Industry
Tabcorp Holdings has informed markets that Adam Rytenskild has resigned with immediate effect as CEO of the ASX-listed wagering and racing media group.
Investors were informed this morning of the immediate departure of Rytenskild who faces “allegations of using ‘inappropriate and offensive’ language in the workplace.”
Tabcorp said its board considered the language used by the CEO to be inconsistent with his leadership and, following discussions, Rytenskild stepped down immediately, according to the company.
Rytenskild had served as CEO of Tabcorp Holdings since May 2022, promoted to the leadership role following the firm’s ASX demerger with lottery partner Tatts Group.
Prior to his appointment, Rytenskild had been a long-term executive of the company overseeing its TAB wagering unit and retail business.
Exiting Tabcorp, Rytenskild stated he did not recall making the alleged comments but resigned “regrettably,” accepting the board’s decision and in support of the company’s values.
The board expressed regret over the circumstances of Rytenskild’s departure but remains focused on continuing the company’s strategic direction and transformation.
Bruce Akhurst, Tabcorp’s chairman, will serve as executive chairman during the search for a new managing director and CEO, conducted by Maritana Partners.
Akhurst stated: “The board regrets 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.”
“Today’s change does not impact the strategic direction of the company. We have the depth and capability across the executive and the senior leadership team to continue our transformation.”
