Robert Priestley has resigned from the Australian Securities Exchange (ASX) board.
Priestley was appointed a director of ASX in May 2017.
Commenting on his departure, Priestley said: “I am very conscious of the unique role that the ASX plays at the heart of Australia’s financial marketplace, and with all of its participants. There has been considerable interest in the The Australian Competition and Consumer Commission banking matter which may become a potential distraction for the ASX and my board colleagues.”
He added: “It is likely that this matter will take some time to resolve, and as there are limits to the information that can be discussed at this time, I think the right course of action in these circumstances is to step aside from the ASX board to allow the situation to be fully resolved.”
“I look forward to the time when all of the facts and circumstances relevant to this matter are clarified.”
Rick Holliday-Smith chairman of ASX, said, “Priestley’s decision to step down in these circumstances demonstrates his commitment to the highest standards of corporate governance.”
He added: “We understand the difficulty of his position, and appreciate that he has made a decision that puts ASX ahead of other considerations. Priestley has been a valued member of the ASX board and we look forward to this matter being resolved.”
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