ASX share price slips following first female CEO appointment

ASX shares have come under pressure despite the company’s management update.

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Key points

  • ASX shares are edging 1.61% lower to $80.12
  • The company this morning announced the appointment of its first ever female CEO to lead the team 
  • Helen Lofthouse will take over from outgoing CEO Dominic Stevens, who has decided to retire on 30 September 2022 

The ASX Ltd (ASX: ASX) share price is in the red during trade on Thursday.

This comes after the company announced the appointment of its first female CEO.

At the time of writing, the stock exchange operator’s shares are down 1.61% to $80.12 apiece.

ASX welcomes first female CEO

Prior to market open, ASX revealed that Helen Lofthouse would take over the role as managing director and CEO.

Outgoing CEO Dominic Stevens will continue to hold the top position until 31 July 2022. He will remain in an advisory role to ensure a smooth transition before retiring on 30 September 2022.

Ms Lofthouse is currently ASX’s Group Executive Markets which is its largest business by revenue. Her responsibilities include cash and derivatives trading, including equities, interest rates, commodities and energy products, and the benchmark’s business and international sales.

Ms Lofthouse joined ASX in September 2015 as a member of the executive leadership team.

An accomplished financial markets executive with more than 20 years of experience in cash equity and debt markets, Lofthouse will become the company’s first female CEO.

It marks a milestone move for ASX as an increasing number of women are beginning to take the helm.

Prior to joining ASX, Ms Lofthouse was based in London where she was a managing director at UBS.

Before that she worked in various senior roles at JPMorgan.

Commenting on the move, ASX chair Damian Roche said:

Given the high calibre of experienced candidates attracted to the position, we are delighted that the outstanding choice to lead ASX as its new CEO comes from within the organisation.

It is testament to Helen’s qualities and highlights the strength within ASX’s executive ranks. It also reflects the Board’s confidence in the strategy and performance of the company in recent years.

We look forward to the fresh ideas and enthusiasm Helen will bring to the role as our new CEO. Her appointment ensures a smooth and orderly CEO transition. ASX’s exciting future is in strong and capable hands.

ASX share price snapshot

The past 12 months have been a wild ride for investors, with the ASX share price up more than 4.5%.

Year-to-date, its losses are hovering at almost 14%.

Based on the current share price, ASX commands a market capitalisation of around $15.51 billion.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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