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Tabcorp Holdings has announced that Gillon McLachlan has begun his tenure as company Chief Executive Officer and Managing Director.

The appointment follows the receipt of all necessary regulatory approvals after the initial announcement in June 2024.

McLachlan Inherits a Company in Transition

McLachlan has watched Tabcorp experience a challenging six months. For 2024, the company reported a loss exceeding AU$1 billion, which it attributed to commercial contracts, defunct projects, and large impairment charges. The company has since outlined its plans to undergo significant restructuring, now with McLachlan at the helm.

Tabcorp’s board has already announced that it has terminated the TAB25 strategy and recovery targets, aiming to regain 30% of Australia’s online market share. 

The ASX-listed company has instead said it will prioritize its TAB unit and wagering contract, put in place a senior leadership team to drive growth and invest in online platform innovation and offerings. 

McLachlan is best known for his nine-year tenure as CEO of the Australian Football League. His notable achievements included expanding the league to 18 teams, launching the AFL Women’s competition, and achieving over 100% revenue growth to over AU$1 billion, driven in part by record-high broadcasting deals. 

A Fresh Leadership Team to Drive Growth

The new CEO’s C-level suite is beginning to take shape with the appointment of Jarrod Villani as Chief Commercial and Media Officer and Michael Fitzsimons to a newly created Chief Wagering Officer role. Fitzsimons, known for his work at the Stars Group and Hong Kong Jockey Club, will oversee the redevelopment of Tabcorp’s consumer-facing product offering. 

McLachlan commented, “Tabcorp is a wagering broadcast and integrity services business, and the challenges of growing it are appealing. There are enormous opportunities ahead, and I’m looking forward to driving the sport category among other things.” 

He replaces interim CEO Bruce Akhurst, who has stepped down from the Board and his role as Executive Director, formally retiring. 

At the time of appointment, Akhurst commented, “Gill needs no introduction – he is recognized as one of Australia’s leading CEOs, and securing Gill is a great vote of confidence for Tabcorp’s future. We’ve laid strong foundations, and Gill brings a growth mindset and the capability to capitalize on the opportunities ahead of us.

He continued, “Gill has a deep understanding of sport, racing, and wagering, combined with significant commercial acumen, which was highlighted in the substantial growth of AFL revenues under his leadership. Importantly for us, Gill brings an added dimension of having been responsible for some of the most significant media rights deals in Australian sports history and we’re excited about the potential growth opportunities for our wagering and media business under his leadership.”

The incumbent replaces former Chief Executive Adam Rytenskild, who left suddenly in March after the company found him to have used “inappropriate and offensive language” in the workplace. Rytenskild vehemently denies those claims and is in the process of claiming unfair dismissal against Tabcorp. 

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