Former The Star chair David Foster exits Bendigo Bank

The former chair of Bendigo Bank David Foster has left the lender months after stepping away from the top job at the scandal-embroiled The Star casino.

David Foster being questioned during the inquiry into The Star.

Former Star Entertainment chair David Foster quietly resigned from regional lender Bendigo and Adelaide Bank on Monday night, months after facing criticism over his management of the casino giant.

In a market update Bendigo told shareholders Mr Foster, who chaired Bendigo Bank until April when he requested a “temporary leave of absence”, would exit the bank effective immediately.

He departs with 15,253 Bendigo Bank shares worth almost $182,273 at Bendigo’s closing price of $11.95 after shares in the lender slid by 2.45 per cent or 30c on Tuesday.

Mr Foster was paid $299,000 in 2024.

Mr Foster was replaced on an interim basis by Vicki Carter in April, and her appointment was made permanent about a month later.

Mr Foster had faced intense questioning over his role at Star, and admitted he discussed attempting to remove the Sydney casino’s special manager, Nick Weeks, due to anger about the oversight of the harbourside gaming venue.

Star’s shares are currently suspended as investors await details of its delayed financial negotiations and a response to the show-cause notice from the NSW Independent Casino Commission. It has undergone a second damning inquiry into its suitability to hold a casino licence.

In its short statement, Bendigo’s board said it “would like to acknowledge David’s contribution to the organisation”, since joining in 2019.

Mr Foster, was due for re-election in 2025.

Mr Foster’s exit comes after months of pressure on the veteran company director who has held roles across the financial services sector. He has stepped away from most of his commitments, quitting as chair of ASX-listed childcare operator G8 Education in May.

Mr Foster has also taken leave as chair of Youi, the local insurance subsidiary of South African financial giant OUTsurance.

Bendigo Bank is undergoing a period of transition as it adapts to new chief executive Richard Fennell.

Mr Fennell recently revealed three new executives at the lender, appointing a head of digital banking, marketing, and a chief customer officer for Bendigo’s consumer banking division.