ASX CEO resigns

Elmer Funke Kupper has resigned as managing director and CEO of the Australian Securities Exchange (ASX), effective immediately, after four and a half years in the role.

In a media statement, the ASX confirmed that chair Rick Holliday-Smith will perform the role of executive chair while an executive search is underway for Funke Kupper's replacement.

Holliday-Smith said: "We have an experienced senior executive team who will work with me to manage the business while we search for a new CEO.

"The ASX Board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter - and not have them interfere with the important role of leading the ASX.

"Elmer has demonstrated leadership and energy during his time at ASX. He hands over a stronger team and a core franchise well positioned for future opportunities. His legacy is a globally competitive, more externally focused company, which is committed to innovation and investment in the customer services and infrastructure that are at the heart of Australia's financial marketplace."