TAB NZ chair to step down following Entain deal
Mark Stewart to be replaced by deputy chair Anna Stove as operator looks to the future with London-listed partner
TAB NZ chair Mark Stewart will step down at the end of August after two years with the operator.
Stewart will be replaced in the interim by current TAB NZ deputy chair Anna Stove from 1 September.
He leaves the operator following the approval of a 25-year strategic partnership with Entain.
Stewart has served as TAB NZ chair for the past two years and played a key role in securing the partnership with Entain.
Stove joined TAB NZ as an independent director in August 2020 before stepping up to become deputy chair in August 2021.
Stove’s ascension follows the departure of former TAB NZ CEO Mike Tod in June.
Tod was replaced by general counsel Nick Roberts.
Speaking on her appointment, Stove said: “I want to thank Mark for his incredible leadership and drive. I am very excited to be picking up the reins as we pay particular focus to working with the government on modernising New Zealand’s gambling settings.
“A legislative net which restores TAB NZ’s monopoly in the modern, online world will not only result in better harm minimisation outcomes for Kiwi punters, but would also see an immediate funding uplift to racing and sport,” she added.
Stewart said: “I have the utmost confidence in the remaining board and management team continuing to build on the Entain partnership for the benefit of our country.
“I am also delighted that Anna has been appointed as interim chair. We have benefited from her governance experience in racing and commercial acumen over the last couple of years.”
The deal with Entain is set to provide a huge capital injection into New Zealand sport.