The Australian Securities Exchange (ASX) announced Wednesday that Damian Roche, its current Chair, will retire from the Board at the conclusion of the company’s Annual General Meeting (AGM) on October 28, 2024.
ASX Chair Damian Roche to Retire
Roche, who has been serving as Chair for several years, has been guiding the ASX through a period of significant transformation. However, he had come under heavy pressure in recent years, particularly regarding the replacement of its Chess clearing infrastructure.
The process has resulted in the Australian Securities and Investment Commission suing the market operator.
Roche previously announced his intention to retire at the 2023 AGM, focusing on board renewal and ensuring a smooth transition to a new Chair.
Taking over the role will be David Clarke, a seasoned director with extensive experience in banking, commercial property, and funds management.
Clarke has served as Chair of several ASX-listed Boards and will join the ASX Board as a Non-Executive Director and Chair Elect effective immediately.
“ASX plays a central role in the nation’s economy, and navigating the process of board renewal in my time as Chair has been key in moving toward our next chapter under our new era strategy,” said Mr. Roche.
“I’m confident Helen Lofthouse and her team will continue to drive our strategic outcomes with the guidance of a highly credentialed Chair.”
Meanwhile, Clarke voiced his enthusiasm for joining the ASX Board and said he is looking forward to meeting stakeholders and hearing directly from shareholders at the upcoming AGM.
“It is a privilege to take up the role of Chair at an institution that stands at the heart of Australia’s financial markets,” he said. “I am honored to be part of the journey that ensures a successful future for ASX.”
