Updates with further details and background
March 22 (Reuters) – Australian casino operator Star Entertainment SGR.AX on Wednesday named David Foster as chairman to replace Ben Heap, who is being sued by the country’s corporate regulator,when he retires from the role on March 31.
The regulator in December announced it was suing 11 current and former directors and officials of the casino operator for poor management of money-laundering risks.
Among them, Heap and former non-executive director Katie Lahey were the only two who were on the board then. Both intended to contest the allegations.
Incoming Chairman Foster, who was the CEO of Suncorp Bank and was responsible for navigating the lender through the global 2008 financial crisis, joined Star Entertainment’s board in December last year.
(Reporting by Navya Mittal in Bengaluru; Editing by Shilpi Majumdar and Devika Syamnath)
((Navya.Mittal@thomsonreuters.com;))
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