ASX (ASX:ASX) - Outgoing Managing Director & CEO, Dominic Stevens
Outgoing Managing Director & CEO, Dominic Stevens
Source: Jason Reed/Reuters
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  • ASX (ASX) Managing Director and CEO Dominic Stevens announces his retirement
  • Mr Stevens will continue as CEO until his successor starts, which the company believes will maintain stability and assist in an orderly transfer of executive responsibility
  • His resignation comes as the company released its half year results, reporting 3.5 per cent growth in profit to $250.3 million
  • The company said it hit a number of milestones during the period including a record for capital raising’s, the most number of listings since 1H08, and the second highest half for cash equity market value traded
  • Shares closed 3.81 per cent lower today at $83.41 each

ASX (ASX) Managing Director and CEO Dominic Stevens has announced his retirement as the company reports an increase to profit in its half yearly results.

Mr Stevens will continue as CEO until his successor starts.

The company believes this will ensure stability, assist in an orderly transfer of executive responsibility, and maintain its focus on providing safe and secure critical financial market infrastructure.

A global search will commence with the Board assisted by Egon Zehnder.

Chairman Damian Roche said he expects an easy transition to the next CEO.

“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 said.

His resignation comes as the company released its half year results, reporting 3.5 per cent growth in profit to $250.3 million.

Operating revenue increased to $501.4 million.

However, total expenses including depreciation pushed higher by 7.6 per cent to $163 million.

This was attributed to increased investment initiatives coupled with growth in market activity.

The company said it hit a number of milestones during the period including a record for capital raising’s, the most number of listings since 1H08, and the second highest half for cash equity market value traded.

However, it advised its Markets business continued to be impacted by the RBA’s current policy settings, with futures volumes subdued.

Looking ahead, ASX said it will continue to invest in contemporary technology to strengthen the quality of its infrastructure and reduce operational risk.

It is also currently working on a program to address recommendations related to the market outage which occurred in November 2020.

Shares closed 3.81 per cent lower today at $83.41 each.

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