{"id":11280,"date":"2025-10-29T08:21:21","date_gmt":"2025-10-29T08:21:21","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=11280"},"modified":"2025-10-29T08:21:25","modified_gmt":"2025-10-29T08:21:25","slug":"anne-ward-to-step-down-as-chair-of-star-entertainment-group-once-ballys-stake-secured","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/10\/29\/anne-ward-to-step-down-as-chair-of-star-entertainment-group-once-ballys-stake-secured\/","title":{"rendered":"Anne Ward to Step Down as Chair of Star Entertainment Group Once Bally\u2019s Stake Secured"},"content":{"rendered":"\n

Star Entertainment Group<\/strong> Chair Anne Ward<\/strong> has announced her intention to leave the Board of Directors – but only after Bally\u2019s Corp<\/strong> and Bruce Mathieson\u2019s Investment Holdings<\/strong> complete their acquisition of a controlling stake in the company.<\/p>\n\n\n\n

Ward, who joined Star\u2019s board in November 2022 and became Chair in November 2024, outlined her plans in a letter to shareholders attached to the notice of the Annual General Meeting scheduled for 25 November<\/strong>. Her re-election as a director is one of the main items to be voted on at the AGM.<\/p>\n\n\n\n

In her letter to shareholders, Ward stated, \u201cAlthough I am standing for re-election as a Director at this meeting, it is my intention to retire from the Board and resign as a Director of the Company at the time the Convertible Notes issued to Bally\u2019s and Investment Holdings are converted to shares in the Company, and Bally\u2019s and Investment Holdings become entitled to appoint the majority of Directors to the Board.\u201d<\/p>\n\n\n\n

However, the upcoming meeting could still lead to further instability. Star has warned of a possible conditional board spill resolution if at least 25% of shareholders<\/strong> vote against the adoption of the company\u2019s remuneration report.<\/p>\n\n\n\n

At the 2024 AGM, 43% of shareholders<\/strong> voted against the remuneration report, which constitutes a \u201cfirst strike\u201d<\/strong>. A \u201csecond strike\u201d<\/strong> next month, under Australian corporate governance rules, would trigger a spill resolution that, if passed, would require all directors to resign, subject to possible re-election.<\/p>\n\n\n\n

The company confirmed that Star Managing Director and CEO Steve McCann<\/strong> would not be required to stand down.<\/p>\n\n\n\n

At the upcoming AGM, one current director – Michael Issenberg<\/strong> – will voluntarily retire, while Bruce Mathieson Jr<\/strong>, the son of Star investor Bruce Mathieson<\/strong>, will stand for election following his recent appointment.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Star Entertainment Group Chair Anne Ward has announced her intention to leave the Board of Directors – but only after Bally\u2019s Corp and Bruce Mathieson\u2019s Investment Holdings complete their acquisition of a controlling stake in the company. Ward, who joined Star\u2019s board in November 2022 and became Chair in November 2024, outlined her plans in […]<\/p>\n","protected":false},"author":7,"featured_media":8749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[14417,14418,14424,14420,14416,14419,9619,9966],"class_list":["post-11280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-ann-ward","tag-ballys-corp","tag-bruce-mathieson","tag-bruce-mathieson-jr","tag-bruce-mathiesons-investment-holdings","tag-michael-issenberg","tag-star-entertainment-group","tag-steve-mccann"],"yoast_head":"\nAnne Ward to Step Down as Chair of Star Entertainment Group Once Bally\u2019s Stake Secured - SBC EURASIA EN<\/title>\n<meta name=\"description\" content=\"Star Entertainment Group Chair Anne Ward has announced her intention to leave the Board of Directors - 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