Former AFL BOSS Gillon McLachlan has been appointed the new Managing Director and Chief Executive Officer of Tabcorp (ASX:TAH), effective from 5 August, 2024.
Tabcorp said that in the interim, Mr McLachlan will act in an observer capacity with Bruce Akhurst continuing to act as Executive Chairman.
Mr McLachlan is a household name in Australia having spent a decade as CEO pf Australia’s biggest sporting code, the Australian Football League (AFL), where he led a significant era of change and transformation and delivered record growth, – more than doubling AFL revenues from $502 million in 2013 to $1,063 million in 2023. This included negotiating the largest sports broadcasting rights deal in Australian history.
He oversaw the expansion of the AFL competition to 18 teams and the launch of the AFLW competition.
Tabcorp said Mr McLachlan has proven success in managing complex stakeholder environments and working productively with all levels of government. He also has extensive racing knowledge as a thoroughbred owner and breeder.
Mr Akhurst said Mr McLachlan has the right attributes to accelerate growth at Tabcorp: “Gill needs no introduction – he is recognised as one of Australia’s leading CEOs and securing Gill is a great vote of confidence for Tabcorp’s future. We’ve laid strong foundations and Gill brings a growth mindset and the capability to capitalise on the opportunities ahead of us,’’ he said.
“Gill has a deep understanding of sport, racing and wagering, combined with signficant commercial acumen which was highlighted in the substantial growth of AFL revenues under his leadership. Importantly for us, Gill brings an added dimension of having been responsible for some of the most significant media rights deals in Australian sports history and we’re excited about the potential growth opportunities for our wagering and media business under his leadership.”
Mr McLachlan said he was focussed on accelerating the growth of Tabcorp.
“Tabcorp is a wagering, broadcast and integrity services business and the challenges of growing it are appealing. It’s about creating entertainment for our customers in a safe way and providing a unique customer omni-channel entertainment offering across digital, retail and the media business,’’ he said.
“Tabcorp is a proudly Australian company that contributed $1.1 billion to the racing industry last year and continues to be one of the racing industry’s biggest partners, as well as the wagering licensee in all states, except for WA. This is a really important component of my decision. There are enormous opportunities ahead and I’m looking forward to driving the sport category among other things,” Mr McLachlan added.
Mr McLachlan has a Bachelor of Laws from Melbourne University (Hons), a Bachelor of Commerce from Adelaide University and has completed the Senior Executive Program at Stanford University.
TAH was trading nearly 1% down at 6.5 cents.