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ASX chief stands down

ASX boss Elmer Funke Kupper has resigned as the federal police investigate his former role as chief executive of Tabcorp.

Mr Funke Kupper, who has served as chief executive of the ASX since October 2011, stepped down amid an investigation into his time at Tabcorp.

He was CEO of the betting company in 2009 when a $200,000 payment was allegedly made to the family of Cambodian Prime Minister Hun Sen.

It came at a time when the Tabcorp was attempting to gain an online gambling licence in the country, The Sydney Morning Herald reported.

“The ASX board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter,” ASX chairman Rick Holliday-Smith said.

“Elmer has demonstrated leadership and energy during his time at ASX. He hands over a stronger team and a core franchise well-positioned for future opportunities.”

Mr Holliday-Smith will assume the role of chief executive until a replacement is found.

[Related: SuiteBox appoints new chief]

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