March 15 (Reuters) - Shares in Australia's Tabcorp Holdings (TAH) fell more than 7% on Friday, a day after the bookmaker's CEO Adam Rytenskild resigned as the board became aware of the top boss using "offensive" and "inappropriate" language at the workplace.
Shares were down as much 7.2% to A$0.71 in early trade, set for their worst week since March 2020.
Tabcorp said on Thursday its board considered the language used by the CEO to be inconsistent with his leadership and following discussions, Rytenskild stepped down immediately, according to the company.
"I don't recall making the alleged comment and it's not language I would usually use, but I have regrettably agreed to resign," the outgoing CEO was quoted as saying in a company statement.
Rytenskild was appointed CEO in June 2022 and has served with the wagering firm for over two decades.
Chairman Bruce Akhurst will take over the additional role of executive chairman, while the firm appointed Maritana Partners to commence a global search for a new managing director and CEO.
News: TAH Tabcorp slumps as CEO resigns over 'inappropriate' language allegations
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Last
72.5¢ |
Change
-0.015(2.03%) |
Mkt cap ! $1.657B | |||
| Open | High | Low | Value | Volume |
| 74.0¢ | 74.5¢ | 72.5¢ | $1.735M | 2.379M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 91691 | 72.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 72.5¢ | 31639 | 1 |
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| Last trade - 16.12pm 08/08/2025 (20 minute delay) ? |
| TAH (ASX) Chart |