SYDNEY, AUSTRALIA: ASX Limited (ASX) advises that Managing Director and Chief Executive Officer (CEO) Dominic Stevens has announced his intention to retire this year, with the Board beginning a process for a timely and orderly transition to a new CEO.
The Board congratulates Mr Stevens for successfully leading ASX through a period of significant growth and transformation, underpinned by consistently solid financial results.
Mr Stevens is now in his ninth year at ASX and sixth as CEO, having joined ASX as an independent non-executive director in December 2013 after close to 30 years’ experience in financial markets.
He was appointed ASX CEO in August 2016.
Mr Stevens will continue as CEO until the commencement of his successor. This will ensure stability for the company, assist in an orderly transfer of executive responsibility, and maintain ASX’s focus on providing safe and secure critical financial market infrastructure.
ASX Chairman Damian Roche paid tribute to Mr Stevens, praising his leadership and contribution to ASX, one of the world’s top-10 listed exchange groups by market capitalisation.
“Dominic is providing ample notice of his retirement plans for which we are grateful. This is typical of his foresight, and enables a smooth transition to the best possible successor at a time when ASX will be entering its next phase of growth and innovation.
“He will leave ASX in a strong financial and operational position, and with the transformation of critical systems, platforms and infrastructure complete or nearing completion.
The replacement of CHESS is progressing well, with the fully integrated industry test environment open and operating successfully.
Dominic looks forward to transitioning with the new CEO to help them to come up to speed on this key project.
“While Dominic will remain CEO for some time yet, I would like to thank him for his stewardship during a period of major change and challenge for our company and the industry,” Mr Roche said.
Mr Roche added: “The strength of ASX’s half-year results announced today underlines the breadth and quality of Dominic’s tenure as CEO.
Across his time in the role, ASX has delivered total shareholder returns of nearly 110%, including dividends and share price growth, compared to circa 65% generated by the S&P/ASX 200 accumulation index.”
A global search will commence with the Board assisted by Egon Zehnder.
Mr Stevens said: “It is an honour to serve as the CEO of ASX, which plays a critical role in Australian and global financial markets. I am proud of what we have accomplished for our customers, staff, shareholders and our industry.
Now is the appropriate time for a new CEO to be transitioned into the company and to take charge of the next phase of ASX’s growth and innovation.
“It has been my great privilege to work with an exceptionally skilled team whose enthusiasm and hard work have helped position ASX as a global exchange leader.
I wish to thank all our people for their professionalism and dedication, particularly during the pandemic.
“My plan is to retire from executive roles after leaving ASX. In the meantime, I remain committed to the company and to ensuring my successor has time to get their feet under the table in preparation for the next chapter in ASX’s future,” concluded Mr Stevens.