Star Entertainment Group in Australia has named David Foster as its new chairman, taking over for Ben Heap, who is leaving.
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 Foster became a non-executive director on the Star board in August of last year. He had worked in the financial services industry for more than 25 years, including more than five years as CEO of Suncorp Bank.

 Foster will start his new job on March 31, as long as he gets the required permits from the government.

 Heap will be replaced by Foster, who only became chairman in June of last year after Matt Bekier left as managing director and CEO and Heap served as interim chairman.

 Star said in December, though, that Heap will leave after being listed as one of several current and former directors and executives who will be sued by the Australian Securities and Investments Commission (ASIC).

 Section 180(1) of the Corporations Act 2001 (Cth) says that a company officer must "exercise their powers and discharge their duties with care and diligence." This is what these cases are about.

 ASIC claimed this was also related to what they found during their investigations into Star's actions in New South Wales and Queensland. These are two places where Star has recently been found to be unfit to have a casino operator license, and its licenses were therefore suspended.

 Heap added, "I want to thank the board and management for their continued support while I was chairman."  "I have no doubt that The Star will be a major player in Australia's tourism and entertainment industries for many years to come, hiring thousands of people in beautiful places like Sydney, Brisbane, and the Gold Coast."

 Foster went on to say, "Ben has been a key player during what has been a tough time for The Star.  He led and stabilised us at a crucial time, which included handling the hiring of our new CEO, the renewal of the board, and the resetting of the balance sheet.

 "These were critical and necessary steps that have now been taken as the organisation moves forward into an exciting new era.  As we work to earn back the community's trust, I am happy to take on the role of chairman.