Former AFL boss Gillon McLachlan appointed Tabcorp CEO

[angelopetraglia]

The former boss of the Australian Football League, Gillon McLachlan, has been appointed chief executive of ASX-listed wagering business Tabcorp. Link https://www.theage.com.au/business/c...17-p5jma0.html

McLachlan will join the business in August and assume the role of managing director and chief executive upon all necessary approvals. He will act as an observer under executive chair Bruce Akhurst until then.

?From the outside it looks like a complex leadership challenge? McLachlan told this masthead on Monday morning.

?For me that is quite compelling. I?m attracted to the challenge. To state the obvious, I?ve not led an ASX-listed company before, but in the end I think the principles of leading the AFL apply; direct communication, transparency and hopefully getting the job done,? he said.

McLachlan left the AFL last year after almost a decade in the code?s top job and recently signed as a senior adviser for Blackstone, the US private equity owner of Crown Resorts. McLachlan?s Blackstone role is not full-time. Tabcorp will pay him $1.5 million in addition to bonuses.

McLachlan said there needed to be balance in the intersection between gambling, sport and broadcasting industries.

?There is different views on what balance looks like. You?ve got [the government] weighing up their decisions and then there?s the companies themselves with their own views,? he said.

The federal government is deciding whether to implement a total ban on gambling advertising. McLachlan, who gave evidence to a 2022 inquiry into online gambling harm on behalf of the AFL, said his position has not changed. Tabcorp has long endorsed a total advertising ban.

?I said at the time there?s too much gambling advertising and there should be less... I haven?t started yet so there may be different nuances and positions from where I was at the AFL, but broadly there?s an alignment on that position,? he said.

Tabcorp?s former chief executive Adam Rytenskild stepped down in March after a board investigation following an allegation he used sexually inappropriate language about a female regulatory official. Rytenskild said at the time he did not remember making the comments.

Rytenskild had led the business since it demerged from The Lotteries Corporation in 2022. Tabcorp?s share price has fallen by more than 20 per cent since the demerger was completed and is hovering around 65?. The group is in the midst of a strategic transformation forced by poor macroeconomic conditions and increased competition from global wagering behemoths which have eaten into Tabcorp?s once dominant market share through their strongholds in online sports betting.

Akhurst has worked with McLachlan before in his former roles at Foxtel and Telstra and said on Monday his deep knowledge of wagering, sport and racing would benefit Tabcorp.

?Gill needs no introduction; he is recognised as one of Australia?s leading chief executives and securing Gill is a great vote of confidence for Tabcorp?s future,? he said.

McLachlan led the AFL for close to a decade and left at the end of last season after 20 years with the sport. Over that time, he bought Marvel Stadium and signed two lucrative media broadcast deals, including 2021?s $4.5 billion deal with Foxtel and Channel Seven.

Tabcorp?s share price increased by 10 per cent on Friday after NSW Treasurer Daniel Mookhey said the state would consider increasing the point of consumption tax on all bets, meaning Tabcorp?s corporate bookmaking competitors will pay more tax.

[angelopetraglia]

Well, welll, well. I'm not really suprised but still so dissapointed. This is such a poor look on so many levels. I hate sports gambling in particular and its conditioning of our children via platforms like the AFL. Gill cares so much about every single social issue that the AFL has supported, but he now takes on the chief role at one of Australia's largest gambling dens. He is morally bankrupt and reveals his true colours.

[Sedat]

Mediocre, untalented career corporatist who has never actually created anything of value in his career starts new role at a major corporation. The cycle of life continues.

[Grantysghost]

Not sure why anyone is surprised when people who like money, do things to make more money. I know it's a cynical view, but capitalism won. So that's the motivator for our society.

I'm still dirty we got rid of the pokies, it's a legal revenue stream and some people can use them like adults (come at me).

And don't get all moralistic on me typing messages on your iphone made by kids

And G fix the question marks!

Edit: re capitalism. Something stuck with me when they unified Germany. They introduced capitalism into the east, and were doing a vox pop with some of the residents there who had only known the Soviet way for their entire lives.

The question to a 40 something woman was something like : "Aren't you excited by the amazing range of products you'll have access to?...."

She replied : "No, I like the yoghurt I have now".

It was such a perfect answer. Why do I need something I've never needed.

[Happy Days]

Mediocre, untalented career corporatist who has never actually created anything of value in his career starts new role at a major corporation. The cycle of life continues.

God I wish it were me

[Sedat]

God I wish it were me

Yep. I respect the hustle but hate the game.

[hujsh]

Not sure why anyone is surprised when people who like money, do things to make more money. I know it's a cynical view, but capitalism won. So that's the motivator for our society.

I'm still dirty we got rid of the pokies, it's a legal revenue stream and some people can use them like adults (come at me).

And don't get all moralistic on me typing messages on your iphone made by kids

And G fix the question marks!

Edit: re capitalism. Something stuck with me when they unified Germany. They introduced capitalism into the east, and were doing a vox pop with some of the residents there who had only known the Soviet way for their entire lives.

The question to a 40 something woman was something like : "Aren't you excited by the amazing range of products you'll have access to?...."

She replied : "No, I like the yoghurt I have now".

It was such a perfect answer. Why do I need something I've never needed.

[Grantysghost]

Haha - is it that edgy? I thought it was common knowledge. The stories out of foxconn are rank.

[bornadog]

And G fix the question marks!

Careful, Aza will be on to you

[Grantysghost]

Careful, Aza will be on to you

He's got me on a watchlist somewhere.

[azabob]

Careful, Aza will be on to you

GG is always going on about his "tech skills" and working in I.T maybe he should step up and fix it?

In all seriousness, though, surely beggars cannot be choosers?

[Grantysghost]

GG is always going on about his "tech skills" and working in I.T maybe he should step up and fix it?

In all seriousness, though, surely beggars cannot be choosers?

Only skill I have is marvelling at imposter syndrome.

I would fix it but G won't give me the password.

I tried Ilovetents3 but no bueno.

[bornadog]

He's got me on a watchlist somewhere.

GG is always going on about his "tech skills" and working in I.T maybe he should step up and fix it?

In all seriousness, though, surely beggars cannot be choosers?

Bingo, he got you

[EasternWest]

Well, welll, well. I'm not really suprised but still so dissapointed. This is such a poor look on so many levels. I hate sports gambling in particular and its conditioning of our children via platforms like the AFL. Gill cares so much about every single social issue that the AFL has supported, but he now takes on the chief role at one of Australia's largest gambling dens. He is morally bankrupt and reveals his true colours.

I'm surprised you're disappointed. Something about leopards and spots. I'd actually be more disappointed if he did something worthwhile, it would shake my foundations out from beneath me.

Now I can sleep better and without existential dread, safe in the knowledge that everything is in its place.

Mediocre, untalented career corporatist who has never actually created anything of value in his career starts new role at a major corporation. The cycle of life continues.

I prefer that my villains play to type.

God I wish it were me

Be the change you want to see.

[hujsh]

Haha - is it that edgy? I thought it was common knowledge. The stories out of foxconn are rank.

Common knowledge but name an ethical alternative? To me reads like a juvenile way to dismiss people.

The way we have entire communities set up with nothing to do but sink money into a black hole to see some dancing lights is terrible and I'm glad the not for profit football club I support doesn't take part in it anymore.