Meet the Gold Coast’s $5 million man
The Gold Coast has a new $5 million man heading up one of the city most important businesses.
The Star Entertainment Group appointed Steve McCann as its Group Chief Executive officer and Managing Director, effective from July 8.
Mr McCann was previously CEO and managing director at rival casino operator Crown Resorts and, before that, served in the top brass at real estate developer LendLease Corporation.
“I look forward to joining The Star at this critical time. I recognise that there are many complex issues and challenges for the company to address,” Mr McCann said.
He takes over the business at a tumultuous time, with the casino experiencing a series of run-ins with regulators in both Queensland and New South Wales.
Chairman of The Star, Anne Ward, said “the company was very pleased to have secured Mr McCann’s services.
“Given his time with Crown, and previous long-standing leadership at Lendlease, he has the right credentials to lead The Star’s remediation program,’’ she said.
“His track record reflects his capability to work collaboratively with multiple stakeholders and lead meaningful transformational change and cultural renewal.
“This experience will be invaluable as we work towards rebuilding trust and expediting the sustainable transformation of The Star.”
While Mr McCann will certainly have his work cut out for him, he will also be handsomely rewarded.
The new boss will receive a $2.5 million sign-on bonus and a$2.5 million annual salary.
In addition, Mr McCann will also be in line for a $5 million performance bonus if The Star his performance targets within three years of appointment.