Australia’s Star Entertainment Group has made significant appointments to its board by bringing on Deborah Page and Toni Thornton as non-executive directors. These additions come at a time when the company is facing a securities class action lawsuit and regulatory scrutiny.
Appointment of Deborah Page:
Deborah Page, an experienced company director and chair, has been appointed as a non-executive director of Star Entertainment Group. With a vast range of experience across various sectors, including property, utilities, insurance, technology, renewables, and funds management, Page brings valuable expertise to the board. Currently serving as the chairman of Pendal Group and a non-executive director of Brickworks, Growthpoint Properties Australia Limited, and Service Stream Limited, she has a strong track record in corporate leadership and governance.
Appointment of Toni Thornton:
Toni Thornton, with over 15 years of corporate finance and strategic advisory experience, has also joined Star Entertainment Group’s board as a non-executive director. Thornton’s background includes senior roles at JBWere, Goldman Sachs JBWere, and National Australia Bank. She currently serves as a non-executive director of G8 Education Limited, CS Energy, Millovate Pty, and Habitat Early Learning. Her expertise in finance and strategic decision-making will contribute to the board’s capabilities.
The Role of New Directors:
Star Chairman Ben Heap expressed his welcome to Deborah Page and Toni Thornton, emphasizing their valuable skills and diverse experiences that will contribute to the ongoing organizational and cultural transformation of the company. Given the challenging circumstances the company faces, including the need for remediation and transformation, the new directors are expected to play pivotal roles in guiding Star Entertainment Group.
Challenges Faced by Star Entertainment Group:
The recent appointment of new board members comes at a critical time for Star Entertainment Group, as the company grapples with significant challenges. The securities class action lawsuit filed by Maurice Blackburn alleges that Star made misleading representations between March 2016 and March 2022, particularly regarding its compliance with anti-money laundering and counter-terrorism financing obligations. The company is accused of withholding relevant information from the market and conducting its affairs contrary to the interests of its members.
Furthermore, Star Entertainment Group has received show cause notices for its two Queensland casinos from the Office of Liquor and Gaming Regulation (OLGR). These notices follow the findings of the Gotterson Review, which highlighted institutional failings and led the state government to declare that the casino was “unsuitable” to hold its license. The company has until November 25 to provide evidence that may prevent enforcement action against its operations.
The appointment of Deborah Page and Toni Thornton to Star Entertainment Group’s board brings valuable skills and expertise to the company during a time of significant challenges. As the company faces a securities class action lawsuit and regulatory scrutiny, the new directors will play instrumental roles in navigating these issues. With their diverse backgrounds and experiences, they will contribute to the ongoing remediation and transformation efforts within the company. Star Entertainment Group aims to address the allegations, regain trust, and ensure compliance with industry standards as it moves forward.