Former banker Elmer Funke Kupper, acting chief executive of giant Australian gaming company Tabcorp, has been named as the permanent replacement for Matthew Slatter. The ‘outstanding choice’ was made after an extensive global search for a new Tabcorp CEO following the ousting of Matthew Slatter four months ago. His proven track record and extensive knowledge of the gaming industry were given as reasons for Elmer Funke Kupper’s selection.

Tabcorp Chairman Michael Robinson said the focus for Funke Kupper was to ensure the company’s first-class gambling and entertainment assets delivered better returns for shareholders. Elmer Funke Kupper’s appointment ensures a smooth transition for Tabcorp with Mr Robinson retiring this year and John Story taking over as Chairman following the company’s Annual General Meeting in November.

Mr Funke Kupper said: “I am delighted to be given the opportunity to lead the Tabcorp group, which includes many great businesses and the most talented people in the gambling and entertainment industries. Tabcorp’s focus in the future must be to provide great customer service, deliver market share growth in our businesses, drive productivity and secure the renewal of its gaming and wagering licences.”

The new Tabcorp boss will earn a base salary of A$1.5 million with a short-term incentive of A$1.5 million if targets are met. With added share incentives of around A$1.74 million, the entire deal is worth in the region of A$4.74 million (US$4.12 million). (E-07.13.07)

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