ASX CEO in Sudden Resignation

Elmer Funke Kupper

Elmer Funke Kupper

The head of the Australian Securities Exchange, Elmer Funke Kupper, has abruptly quit his position, amid investigations into his actions in his former role as head of gambling company Tabcorp Holdings.

The Australian Securities Exchange (ASX) CEO Elmer Funke Kupper had recently become embroiled in claims that he knew of a payment to the family of Cambodian prime minister Hun Sen.

The resignation came less than a week after the Australian Federal Police instigated a probe into a $200,000 payment made to the family of Cambodian Prime Minister Hun Senwhen Funke Kupper was the boss of gaming giant Tabcorp.

Tabcorp is a diversified entertainment group and a leader in the Australian wagering, racing media, gaming services and Keno markets.

Cambodian Link

This allegedly occurred a time when the company was attempting to gain an online gambling licence in Cambodia, according to a report in the Sydney Morning Herald.

His resignation is effective immediately. Mr Funke Kupper has been ASX Managing Director and CEO since 6 October 2011. The Board has decided that ASX Chairman, Rick Holliday-Smith, will perform the role of Executive Chairman while a national and international executive search is conducted for the new ASX Managing Director and CEO.

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