The Star Entertainment Group (ASX: SGR) changes management after the resignation of the chairman – The Market Herald

• The Star Entertainment Group (SGR) appoints Jeff Hogg and Ben Heep as acting CEO and interim chairman, respectively, following the resignation of John O’Neill as executive chairman
• Mr. O’Neill was appointed executive chairman on an interim basis following the resignation of then-head and CEO Matt Becker
• After spending just under eight weeks, he will resign on May 31 and is currently taking over as chairman and executive.
• Arrangements to reward Mr. Hogg, who is currently the interim CEO of casinos in New Southwest and Queensland, will be announced before he takes over as CEO
• Shares of The Star Entertainment Group rose 0.32 percent to $ 3.12 at Monday’s close

The Star Entertainment Group (SGR) has appointed Jeff Hogg and Ben Heep as acting CEOs and interim chairmen respectively following the resignation of John O’Neill as executive chairman.

Mr. O’Neill was appointed executive chairman on an intermediate basis in early April, following the resignation of then-head and CEO Matt Beckier.

After spending just under eight weeks in office, he will officially step down on May 31 and is currently changing his duties as chairman and executive.

The company found itself in hot water after the Australian Center for Transaction Reporting and Analysis (AUSTRAC) launched an inspection of Star’s Casino in Sydney amid concerns about ongoing due diligence and compliance with laws last June.

The investigation examined allegations that Star ignored criminal connections and possibly money laundering activities of its main “route” tour partners.

Since then, Star has filed several class action lawsuits for a variety of reasons, including on non-compliance with disclosure requirements amid a public investigation into Sydney’s casino activities.

The star also faced a class action lawsuit from its shareholders last October and it was alleged that the company mismanaged the risks of money laundering and terrorist financing.

The search for a permanent CEO began last month.

Arrangements for the award of Mr. Hogg, who is currently the interim CEO of casinos in New Southwest and Queensland, will be announced before he takes over as CEO.

Shares of The Star Entertainment Group rose 0.32 percent to $ 3.12 at the close of trading on Monday.