Australian stock exchange boss steps down
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.
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". A statement by the ASX announced that Rick Holliday-Smith will take over Funke Kupper's duties until a replacement is found. AFP, ASX (hch/bea)
Australian
Australia
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Monday
Elmer Funke Kupper
CEO
Australian Securities Exchange
Australian_Securities_Exchange
ASX
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October 2011
Funke Kupper
Tabcorp
Tabcorp_Holdings
Australia
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Australian Federal Police
Australian_Federal_Police AFP_(TV_series)
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Cambodia
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Prime Minister
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Tabcorp
Tabcorp_Holdings
Funke Kupper
Tabcorp
Tabcorp_Holdings
Cambodia
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ASX
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chairman
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Elmer
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Tabcorp
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ASX
Australian_Securities_Exchange Mitsubishi_RVR Advanced_Stream_Redirector Armstrong_Siddeley_ASX Mitsubishi_ASX Muratayak_language ASX
ASX
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Rick Holliday-Smith
Funke Kupper
AFP, ASX (hch/bea)
Elmer Funke Kupper
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Australian Securities Exchange
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Australian Federal Police
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134,535 euros
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Cambodia
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Prime Minister
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Hen Sen
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