Star Entertainment Group Confirms Board, CEO Leadership Changes

In a major governance overhaul, The Star Entertainment Group has restructured its executive leadership and board following significant departures and fresh capital investment.

Approved during a December 16 board session, the reshuffle sees Bruce Mathieson Jnr transition from chairman to CEO-designate, pending contractual formalities. He will retain his position as an executive director after the transition, with CEO terms to be disclosed upon finalization.

Concurrently, Soo Kim ascends to board chairmanship as non-executive directors Toni Thornton and Peter Hodgson exit, leaving three members on the panel: Mathieson, Kim, and George Papanier.

Accelerated Transition

The executive overhaul gained momentum with Steve McCain’s abrupt departure as group CEO on December 16, coinciding with the board meeting that named Mathieson the new chief executive. Mathieson’s rapid ascent, from non-executive director in mid-October to executive chair and now CEO, aligns with governance protocols requiring the chair and chief executive roles to be held separately.

The incoming leader brings over 30 years of expertise in the hospitality industry, including steering ALH Group through its 2019 merger with Endeavour Drinks and subsequent 2021 Woolworths demerger. The new chairman, Soo Kim, emphasized confidence in the reshuffle, stating, “We are fortunate to have Bruce lead our company as CEO. George and I understand what an honor and responsibility it is to join and contribute to the board. We are confident our best days are ahead.”

Capital Stake Expansion

The Star’s governance reset follows a recent board refresh and an AU$300 million capital boost. Regulatory clearances in late November authorized US-based Bally Corporation to acquire a 38% stake, making it a major shareholder alongside Mathieson Investment Holdings. This investment automatically inducted Bally Chairman Soo Kim and President/CEO George Papanier on The Star’s board.

The final board composition remains contingent on further regulatory approvals, including pending formal validation for non-executive director Don Pasquariello, who was initially nominated in November.

Honoring the Departing CEO

Bruce Mathieson Jnr formally recognized outgoing CEO Steve McCann’s contributions during The Star’s period of intense regulatory and financial challenges. In an official statement, Mathieson declared, “On behalf of the board, I want to thank Steve for his strong leadership and hard work during one of the most complex and challenging periods for The Star.”

Mathieson emphasized McCann’s crisis-era leadership, noting that he achieved a “critical financial reset” and advanced remediation plans that laid the foundation for long-term recovery. Mathieson concluded, “We wish him well in his endeavors.”