Tabcorp chief executive Bruce Akhurst will step down as chairman of the ASX-listed betting giant after senior investors raised concerns about the company’s poor performance and rising costs.

Mr Akhurst, who became chairman of the board following the company’s merger with The Lottery Corporation in 2022, will be replaced by fellow director Brett Chenoweth, who is also chairman of RetireAustralia and Canberra Data Centres.

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