Dominic Stevens is leaving the ASX after refusing to commit to another six years in the job. He is leaving amid doubts about the CHESS replacement project that is two years behind its original schedule and is costing five times the original budget.
Dominic Stevens is leaving the top job at ASX after delivering returns to shareholders of about 14.5 per cent a year for 5½ years, including a 70 per cent share price increase and total dividends worth $13.50 a share.
But his legacy is uncertain thanks to a $250 million piece of unfinished business called the CHESS clearing and settlement replacement project, which is due to go live in April 2023.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
