Echo CEO Redmond Quits

Echo posted disappointing mid-year results, with profit dropping 30.5 percent to A$46.1 million ($41.3 million).

Its flagship property, The Star in Sydney, was set for a A$900 million ($807,000) renovation, when the NSW Government decided to allow James Packer to build a rival casino complex.

Echo’s new CEO is its chief financial officer, Matt Bekier, effective May.

Redmond was the latest executive to leave. Star manager Sid Vaikunta was sacked over sexual harassment claims. Echo is yet to replace Star managing director Frederic Luvisutto, who quit in December.