Dominic Stevens named new ASX chief, replacing Elmer Funke Kupper

Former Challenger chief Dominic Stevens replaces Elmer Funke Kupper, who quit abruptly as ASX CEO in March.

The new managing director’s last executive role was at financial services group Challenger, where he held the top job from 2008 through until 2012. Britta Campion/The Australian.

Former Challenger chief executive Dominic Stevens has assumed the vacant post of ASX Ltd managing director and chief executive after the company spent four months looking for a successor to Elmer Funke Kupper.

Mr Kupper stepped down in March as he looked to address allegations of bribery at Tabcorp during his time leading the gambling group.

ASX Ltd (ASX) immediately began an international and domestic hunt for a replacement, settling on an internal candidate in Mr Stevens, who has been a member of its board since December 2013.

The new managing director’s last executive role was at financial services group Challenger, where he held the top job from 2008 through until 2012.

“Dom’s long involvement in financial markets, his experience as a CEO and his time as a director means the ASX board is delighted and confident in making this appointment,” ASX chairman Rick Holliday-Smith said.

Mr Stevens will assume the role from today, receiving $2 million a year in fixed remuneration, with short-term incentives worth a further $2m.

Elmer Funke Kupper abruptly quit the stock market operator in March. Pic: John Feder

The local bourse operator also informed investors Melinda Conrad had joined the board as a non-executive director.

Ms Conrad is currently a director at retailer The Reject Shop and currency exchange group OzForex.