Tabcorp : CEO & Managing Director - New Employment Contract

Tabcorp Holdings Limited (Tabcorp) today announces that it has entered into a new employment contract with its Managing Director & CEO, David Attenborough.

Tabcorp's Chairman, Paula Dwyer said:

'With the successful completion of the combination with Tatts, Tabcorp will be transformed into a leading, diversified gambling company, well placed to compete and grow.

'We are pleased that David will continue in his current role and oversee the expected delivery of at least $130 million per annum of EBITDA from synergies and business improvements in the first full year after integration of the companies, which is expected to take approximately two years (subject to receipt of necessary regulatory approvals).

'In recognition of the increased scale and complexity of the combined Group, the Board has recently undertaken a remuneration benchmarking exercise in relation to the Managing Director & CEO role and has adjusted Mr Attenborough's remuneration arrangements with effect from 22 December 2017.

'In doing so, the Board has sought to establish a remuneration setting that is competitive, contemporary, and strongly aligned to long term shareholder value creation.'

The adjustments apply to the fixed, short-term and long-term components of the Managing Director & CEO's remuneration package, with the broader terms remaining largely unchanged, other than the removal of some expatriate benefits that are no longer applicable.

The attached appendix provides an overview of the key terms of Mr Attenborough's new employment contract.

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For more information:
Media: Nicholas Tzaferis, GM Corporate Affairs, 03 9868 2529
Financial analysts: Sacha Krien, GM Investor Relations, 03 9868 2794