Susan Forrester named new Jumbo Interactive chair

Australian lottery reseller Jumbo Interactive has appointed veteran Australian executive Susan Forrester as chair of its board of directors, effective immediately.

Forrester’s appointment follows the retirement of long-standing chair, David Barwick, who announced earlier this year that he would leave the post after almost 13 years.

She has previously served as chair and non-executive director for multiple Australian Stock Exchange-listed companies. In particular, Jumbo highlighted Forrester's experience in developing strategies and overseeing corporate governance and compliance, in industries undergoing rapid change. 

Commenting on the appointment, she said: “I am delighted to be joining Jumbo Interactive at a time when the business is performing strongly and focussed on growth opportunities both domestically and overseas.”

Jumbo’s founder and chief executive, Mike Veverka, added: “I am pleased to welcome Susan as non-executive director and chair for Jumbo. Her experience and approach is exactly what Jumbo needs as we seek growth in Australia and overseas in the years ahead”

Forrester will remain on the board of several other companies, including G8 Education, telecommunications business Over the Wire., and Viva Leisure Group.

She is also a member (AM) of the General Division of the Order of Australia for services to business through governance and strategic roles, and as an advocate for women.

Jumbo reported last month an 8.7% increase in revenue year-on-year for the 2020 financial year. The company is now targeting growth in markets such as the UK, US and Canada, and aims to increase its sales to AU$1bn (£552m/$728.2m/€615.3m).

Total sales for the 12 months to 30 June amounted to AU$348.6m, with revenue rising from $65.2m to $71.2m. Jumbo benefitted from Covid-19 shuttering land-based lottery retailers in the latter part of its year, which chief executive Mike Veverka said helped drive players online.

In August, the reseller signed an extended deal with Tabcorp, which will see it cover the reselling of lottery products in New South Wales, Victoria, South Australia, Northern Territory, Australian Capital Territory and Tasmania, as well as international jurisdictions, for the next ten years up to 2030.