Tabcorp moves on board removal following investor protests

Gambling giant Tabcorp has injected more fresh blood into its boardroom amid investor discontent over some existing directors’ length of tenure and the group’s below-market returns.

The $9.5 billion company on Wednesday said professional director Anne Brennan would join its board as a non-executive director, which follows the October appointment of outgoing Football Federation Australia boss David Gallop.

Tabcorp chair Paula Dwyer faced a large protest vote against her re-election at this year’s AGM. Credit:Peter Braig

Tabcorp, which operates lotteries and the TAB wagering outfit, has been hit with significant protest votes at its last two annual general meetings.

At its meeting this October, 34.6 per cent of votes went against the re-election of chairman Paula Dwyer, who has been on the board since 2005, with proxy adviser Institutional Shareholder Services recommending against her re-election because of her long tenure.


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