ASX Names Stevens New CEO After Search to Replace Funke Kupper

  • Stevens is the former CEO of investment company Challenger
  • Funke Kupper stepped down amid probe at former employer

ASX Ltd. named Dominic Stevens as its new chief executive officer after a four-month search to replace Elmer Funke Kupper.

Stevens, former CEO of investment management company Challenger Ltd., starts at Australia’s dominant stock exchange operator Monday, according to a statement from the bourse. 

Stevens joined ASX as a non-executive director in December 2013 and has served on the company’s audit and risk committee. He’ll receive a fixed salary of A$2 million ($1.5 million) and is entitled to long-and short-term incentives of A$3 million, the ASX said.

Funke Kupper stepped down in March as police investigated activities in Cambodia of Tabcorp Holdings Ltd., the Australian betting company he formerly led. Tabcorp said at the time that police had probed the company’s exploration of a business opportunity in Cambodia in 2009. The company didn’t pursue the opportunity and it never went ahead, it said.