Tabcorp has named outgoing Football Federation Australia chief executive David Gallop AM a director as the gambling giant continues its boardroom renewal.
Mr Gallop, who has led the FFA since 2012, will be an observer on the Tabcorp board from Monday until the necessary approvals are gained for his appointment.
Mr Gallop was formerly chief executive of the National Rugby League and is one of several looming changes to the Tabcorp board as director Dr Ziggy Switkowski and chairman Paula Dwyer prepare to retire.
“David has successfully led two of Australia’s highest-profile sporting organisations in the NRL and FFA,” Ms Dwyer said on Friday
“He brings to our board a deep understanding of sports administration and the commercial drivers which underpin it.”
Tabcorp’s FY19 profit surged more than 12-fold to $362.5 million in the company’s first full year of combined operations with the Tatts Group.
But the board nonetheless faces a tricky annual general meeting on October 24, after shareholders delivered a “first strike” against executive pay last year.
More than 40 per cent of investors rejected Tabcorp’s remuneration report despite late tweaks to proposed management bonuses.
If more than 25 per cent of shareholders again disagree with the size of management’s pay packets, it would constitute a second strike and potentially trigger a forced spill.
Tabcorp shares climbed 0.62 per cent to $4.85 in the first 10 minutes of trade on Friday, and have now climbed more than 16 per cent from a two-year low of $4.14 in December last year.