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The managing director and CEO of Tabcorp is stepping down after using inappropriate and offensive language, the gaming company says.
Adam Rytenskild has tendered his resignation and will resign immediately, Tabcorp said on Thursday.
The gaming giant said the board became aware of ‘inappropriate and offensive language used by Mr Rytenskild in the workplace’ and believed it was inconsistent with his continued leadership.
Adam Rytenskild has tendered his resignation and will resign immediately, Tabcorp said on Thursday. He is pictured with David and Candice Warner
‘I do not recall making the alleged comment and it is not language I would normally use, but unfortunately I have agreed to resign,’ Rytenskild was quoted as saying in Tabcorp’s announcement.
The company did not say what the language was and said it would not comment further on the conduct to protect the privacy of those involved.
Sir. Rytenskild will receive only the severance payments required by law and his contract and will forfeit all unearned short-term and long-term incentive awards, Tabcorp said.
Adam Rytenskild is pictured presenting a trophy to coach Annabel Neasham
Tabcorp chairman Bruce Akhurst will take on additional duties as executive chairman with immediate effect while the company searches for a new CEO and managing director.
“The board regrets that Mr Rytenskild’s employment has come to an end in this way and recognizes his commitment to Tabcorp’s growth over more than two decades, including the last two years as director and chief executive officer, and his contribution to the transformation of the company,” said Mr Akhurst.
Rytenskild said Tabcorp had been a huge part of his life for many years and he believed in the journey the company was on.