Australian stock exchange boss steps down

[unhappycamper]

http://www.dw.com/en/australian-stock-exchange-boss-steps-down/a-19130715

The head of Australia's stock exchange resigned Monday amid allegations of bribery at a gambling group he previously ran. Elmer Funke Kupper had been CEO of the Australian Securities Exchange (ASX) since October 2011.

Australian stock exchange boss steps down
21.03.2016

Funke Kupper has also taken a leave of absence from the board of Tabcorp, Australia's largest bookmaker, which is currently being investigated by the Australian Federal Police.

The allegations center on a payment of $151,460 (134,535 euros) to the bookmaker by relatives of Cambodia's Prime Minister Hen Sen. Tabcorp, a publicly listed company, had reportedly been looking to expand into the country.

Funke Kupper told the media last week that he had no recollection of such a payment during his four years at the helm of Tabcorp, which said it did not pursue the expansion opportunity in Cambodia.

ASX chairman Rick Holliday-Smith said the board "accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter - and not have them interfere with the important role of leading the ASX".