Deals
Next Boss at Australia Bourse to Face Global Merger Upheaval
- ASX shares rose 41% under Funke Kupper, outpacing market
- Funke Kupper resigned Monday, citing Tabcorp investigation
Elmer Funke Kupper
Photographer: Ian Waldie/BloombergThis article is for subscribers only.
Australia’s dominant bourse operator is losing its chief executive just as the global exchange landscape is undergoing a major upheaval.
Elmer Funke Kupper, 50, stepped down on Monday after 4 1/2 years in charge at ASX Ltd. as police investigate activities in Cambodia of the Australian betting company he formerly led. The departure comes as global peers embark on a further round of consolidation that threatens to leave ASX facing more powerful rivals. The Australian government has said a takeover of the stock exchange would be against the national interest.