Star Entertainment Group Chairman John O’Neill has been named Executive Chairman on an interim basis while the company looks for a permanent replacement for Managing Director and CEO Matt Bekier.
Bekier announced last week that he was standing down from his role following public hearings into the Australian casino operator, which found that Star had failed to adequately address concerns around its relationship with junkets and had misled the state’s gaming regulator.
While he will remain available in the short term to provide handover assistance, Star said in a Friday filing that O’Neill would assume the role of Executive Chairman effective immediately “in this transitional period to a new Managing Director and CEO”, with executive search firm Spencer Stuart having been appointed to find Bekier’s replacement. Presumably as Executive Chairman, O’Neill will execute the functions normally undertaken by the company’s CEO.
O’Neill will be paid an additional salary of AU$125,000 per month or AU$1.5 million per year as Executive CEO, pushing his total remuneration to just over AU$2 million.
Star also said it will “embark on a program of renewal in a timely manner” with the findings of a regular review into The Star Sydney, which culminated in the public hearings, due to be handed down in June.
“The Star continues to cooperate fully,” it said.
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