David Attenborough plots spa-filled life after Tabcorp

Tabcorp CEO David Attenborough this week pledged his commitment to the firm until the completion of its lotteries demerger, slated to be done by June 2022. Picture: Britta Campion

Monday’s announcement of Tabcorp’s demerger has put chief David Attenborough’s exit back by a further year, but that’s not the only factor keeping the recently turned 58-year-old from taking time out just yet.

Just on a year since the chief’s shock announcement of his intention to leave the top job, at the same time as then-chair Paula Dwyer, Attenborough this week pledged his commitment to the firm until the completion of its lotteries demerger, slated to be completed by June 2022.

That will be just in time for the UK-born exec and his self-employed project manager wife Michelle to relax at their Vaucluse home with their newly approved renovations including a swimming pool and spa upgrade.

Illustration: Rod Clement

The couple have been in the area for some time, but bought the clifftop three-bed abode in 2017 for a cool $3.6m.

Since that time they have lodged several applications to the local Waverley council for wide-ranging renos including the extension of the garage level to include a study which “will enable the owner to work from home on a more regular basis”, as well as a new patio area.

All up, internal renos, as well as the more recently approved pool and spa, are estimated to cost upwards of $2.4m.

Suddenly the extra year of service, and the accompanying $2m base salary plus any bonuses, makes a little more sense.

Still, the final year of service will be no walk in the park for Attenborough, with heavy scrutiny on the $11bn group’s move to pursue the demerger instead of opting for either of the heavyweight takeover bids on the table by London-listed gaming giant Entain or private equity outfit Apollo Management.

At least he can share the spotlight, or blame, with soon-to-be-promoted colleagues.

The global search for Attenborough’s successor was put on hold in March and has since been nullified, with current lotteries boss Sue van der Merwe to be elevated to lead the spin-off alongside chair and Ampol chair Steven Gregg, while director Bruce Akhurst takes the chairmanship at the wagering company alongside Adam Rytenskild as chief.

If all goes well on all fronts there will be quite the pool party in order.

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Last man standing

Invites to a 2018 Crown management offsite at James Packer’s Aspen mansion have proven to be quite the curse for the group’s top brass, with just one of his invitees left standing after the onslaught of the Patricia Bergin-led NSW casino inquiry.

The final invitee, none other than the newly installed Melbourne casino chief Xavier Walsh, had his turn in the docks on Monday, just like the departed execs before him, giving Margin Call cause to wonder whether he too may follow suit.

Crown Melbourne chief executive Xavier Walsh arrives to the Royal Commission on Monday. Picture: AAP

Walsh told an increasingly exasperated Ray Finkelstein he had only sporadic relations with Packer during his time as COO, but was well aware of the “periodic” practice of execs visiting the key shareholder’s $US20m Aspen lodge.

It was one particular winter meeting in December of 2018 that was of interest at Monday’s hearing, with Walsh admitting he had been invited by then chairman John Alexander to attend, given his “key role” in Crown’s flagship operation in Melbourne.

“I would have gone if requested,” Walsh told counsel assisting Adrian Finanzio.

Sadly for him, the overseas trip never eventuated, instead facilitated over a video conference with fellow invitees Alexander, CFO Ken Barton, Australia Resorts chief Barry Felstead and CPH representatives Michael Johnston and Brad Kady.

Yep, you guessed it, all of whom have since been sent on their way at the casino group.

“Of all the people you can name, you’re the only one left,” Finanzio pointed out.

“That’s probably right,” was all Walsh could muster in response.

Any such “curse” isn’t too surprising given the scathing findings from Bergin’s report, which criticised the group’s governance practices in particular.

Those lessons look not to have sunk in either, however, with Walsh admitting he had been elevated to the leading Melbourne role without so much as an interview, simply an approach from Barton during a restructure of the group at the end of 2020.

His consequent elevation to the Melbourne corporate entity, too, was with little effort, Walsh noting that general counsel Mary Manos had approached him to join the board after the departure of Barton and Felstead had left it “short of numbers”.

With the revelation that Walsh knew of the underpayment of gambling taxes well before it was reported also coming out in Monday’s questioning, a few empty seats at the board may be the least of their issues.

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Bragging rights

Not a bird, not a plane. It’s super(annuation) hero Andrew Bragg at it again – this time saving viewers of the public broadcaster from any misinformation when it comes to their retirement savings.

Senator Andrew Bragg in his office at Parliament House in Canberra. Picture: NCA NewsWire/Gary Ramage.

The NSW Liberal senator, alongside his well-documented passion for super, has of late had a few bones to pick when it comes to the ABC, its managing director David Anderson and several parts of the broadcaster’s remit.

Only last month he peppered Anderson on the right of staff, especially Four Corners staff, to tweet freely about sensitive program material.

It’s when his twin super and ABC campaigns combine, however, such as his criticism of the ABC’s partnership with The New Daily, that the real magic happens.

Bragg’s most recent bugbear has been an ABC article on superannuation changes passed in parliament last month, for which he said breached ABC standards of impartiality.

In a strongly worded letter he bemoaned the national broadcaster’s coverage of the super sector, saying it had “offered the industry super sector a consistently elevated platform”.

The result?

An apology of sorts from ABC head of audience Kirstin McLiesh, who noted that the story had made an error due to being written by a “non-specialist reporter tasked with coverage of a complex topic”, and a pledge to review and strengthen editorial oversight.

Tackling superannuation misinformation in a single bound – what would we do without him?

David Attenborough

Xavier Walsh

Andrew Bragg