Australian lottery giant The Lottery Corporation (TLC) has announced that its long-time Chief Financial Officer, Adam Newman, has advised of his intention to step down and leave the Company on 1 July 2027.
Newman will remain in the role until that date, providing continuity while the Board undertakes a process to appoint his successor, TLC explained.
A mainstay of the lottery operator, Newman has been CFO since 2022, including through the company’s demerger from Tabcorp and the establishment of TLC as a standalone listed company.
He more recently led the company’s inaugural Australian debt raising, supporting the funding of the Victorian Public Lottery licence extension and strengthening the company’s financial flexibility, it said.
In departing TLC, Newman has decided to pursue a portfolio career including board and non-executive director roles, drawing on his extensive executive experience across a range of industries.
“Adam has made a significant contribution to TLC since the demerger from Tabcorp, helping to establish the company as a standalone ASX-listed business and building the financial foundations to support our long-term success through a period of significant change,” said TLC’s Managing Director and CEO Wayne Pickup.
“On behalf of the Board and the executive team, I thank Adam for his leadership and contribution to TLC and wish him every success in the next chapter of his career.”
Added Newman, “It has been a privilege to help build TLC as a listed company and to work with the finance team, the executive and the Board. I’m proud of what we have achieved and remain committed to supporting a smooth handover to my successor.”
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