O’neill to step up as Star’s new boss

STAR Entertainment chairman John O’neill will assume the company’s management responsibilities after chief executive Matt Bekier resigned this week amid explosive revelations at a royal commission-style inquiry.

In a move similar to bigger rival Crown Resorts, Mr O’neill (pictured) will become executive chairman on an interim basis, effective immediately, the company announced on Friday. He will receive an extra $1.5m a year in remuneration, bringing his pay from the Star to more than $2m a year.

Former Crown Resorts chair Helen Coonan also became executive chair – bringing her pay to $2.5m at the time – when chief executive Ken Barton resigned following the release of the NSW Bergin report, which found Crown had facilitated money laundering and other organised crime.

Star’s move underscores how quickly the crisis engulfing the company is unfolding. On Monday, it said while Mr Bekier would stand down immediately from the company’s board, he would keep his management position until a replacement was found.

Star said on Friday that Mr Bekier will now be “available in the short term to provide handover assistance as the board requests”.

“While the board considers it critical that the company has stability in this transitional period to a new managing director and CEO, it acknowledges the need for accelerated board change,” Star said. “As The Star continues to focus on its day-to-day business it is also committed to its more than 8000 team members after two years of Covid-related shutdowns and restrictions. A review of The Star Sydney being undertaken by Mr Adam Bell SC is ongoing. The Star continues to co-operate fully.”

Revelations made during the inquiry have also sparked a shareholder class action. Star said it “intends to defend the proceedings”.