
Tabcorp CEO resigns over allegations of “inappropriate and offensive language”
Adam Rytenskild leaves business immediately as ASX-listed operator begins search for replacement while chair takes on extra responsibilities


Tabcorp CEO and MD Adam Rytenskild has resigned from the Australian operator with immediate effect over allegations of “inappropriate and offensive language”.
In a statement released today, 14 March, the Tabcorp board confirmed that following a discussion with Rytenskild, the CEO tendered his resignation and will leave the business immediately.
The board said it had become aware of the CEO using inappropriate and offensive language in the workplace, with that language considered “inconsistent with Mr Rytenskild’s continued leadership of the organisation”.
Rytenskild will receive termination payments required by Australian law following his resignation, while he will forgo all his unvested short-term and long-term incentives.
In a statement, Tabcorp said: “Tabcorp expects its leaders to uphold company values at all times and will not hesitate to take action to uphold expected standards of conduct. To protect the privacy of those involved, Tabcorp does not intend to make any further comment in relation to the conduct.”
The ASX-listed firm has selected Maritana Partners to commence a global search for Rytenskild’s replacement.
In the interim, Tabcorp chair Bruce Akhurst will assume the CEO and MD responsibilities until a new boss has been appointed.
In doing so, Akhurst has been named executive chair with immediate effect, subject to regulatory approvals.
Akhurst will be paid additional remuneration of A$1.7m (£878,449) per year, paid monthly on a pro rata basis during the period he serves as executive chair, taking his total pay per year to A$2.2m.
He will also not participate in Tabcorp’s employee incentive plans, and his tenure as executive chair can be brought to an early end by either party with four weeks’ notice.
Akhurst said: “The board regrets that Mr Rytenskild’s employment has ended in this way and acknowledges his commitment to Tabcorp’s growth over more than two decades, including the last two years as MD and CEO and his contribution to the transformation of the company.
“Today’s change does not impact the strategic direction of the company. We have the depth and capability across the executive and the senior leadership team to continue our transformation.
“We remain focused on executing our strategy at pace, transforming our competitiveness, growing market share, levelling the playing field for fees, taxes and regulation and reshaping the business to deliver a more efficient and effective organisation.
“Tabcorp is on track to deliver this and create a growing and more valuable company for shareholders,” he added.
Confirming his resignation, Rytenskild said: “I don’t recall making the alleged comment and it’s not language I would usually use, but I have regrettably agreed to resign. Tabcorp has been an enormous part of my life for many years and I believe in the journey the company is on.”
Rytenskild had worked for Tabcorp since 2000, taking on a series of senior management roles before being made MD and CEO in May 2022.