The Lottery Corporation Limited (ASX:TLC) Announces CEO Retirement
Executive Changes
The Lottery Corporation Limited (TLC) has announced that Managing Director and CEO, Ms Sue van der Merwe, intends to retire by the end of the 2025 calendar year. The Board will commence a comprehensive global search to select a new Managing Director and CEO, evaluating both internal and external candidates. Ms van der Merwe will collaborate with the Board to ensure a smooth transition.
Executive Comments
Ms Sue van der Merwe stated, “Leading TLC over the past three years has been a privilege and I am exceptionally proud of the results we, as a team, have delivered. I was fortunate to find my passion at an early stage in my working career. The close to 35 years I’ve spent in the lottery industry, culminating in leading TLC, has been an incredible career journey. TLC is in excellent shape with strong fundamentals, unique characteristics and a bright future. I’m proud of the strong culture we’ve built, and I want to thank my team at TLC for their support over the years. I would also like to thank our Chairman, Dr Doug McTaggart, and all our Non-executive Directors for their support. I know I will be leaving the business in good hands, and I look forward to watching its continued success.”
Chairman Dr Doug McTaggart commented, “Sue has played an instrumental role in the success of the lottery industry in Australia over more than three decades. Her deep experience and expertise have helped TLC to become the leading operator of lottery and Keno games in Australia and one of the best performing lottery businesses in the world. The Board congratulates Sue on her successful career and thanks her for her contribution to TLC and, in particular, for her strong leadership of TLC from 2022 when it became a standalone ASX-listed company. Sue will leave behind an enduring legacy of a company with a bright future, supported by a highly capable team and an exceptional culture.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Lottery. The Motley Fool Australia has recommended Lottery. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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