ASX Announces CEO Transition

WHY THIS MATTERS:
Leadership transitions at major market infrastructure providers are never routine — particularly when they coincide with large-scale core system upgrades. ASX’s CHESS replacement project has been one of the most closely watched technology modernisation efforts in global capital markets, following the decision to halt the original blockchain-based rebuild and reset the programme. With go-live for the first phase targeted for April 2026, stability, operational resilience and risk governance remain front of mind for regulators, brokers and listed companies alike. The timing of this CEO transition underscores a broader theme in financial market infrastructure: technology transformation and risk management are now central strategic priorities, not back-office concerns.

ASX Limited (ASX) announces today that Managing Director and CEO Helen Lofthouse will step down in May 2026, following an 11 year career at ASX. 

Appointed CEO in 2022, the announcement of Ms Lofthouse’s planned departure comes as ASX makes final preparations to deliver the first phase of the CHESS project which is targeting go-live in April 2026. 

Having overseen a new transformation agenda and technology modernisation program, and with the CHESS project on firm footing, the Board and Ms Lofthouse have determined it is the right time for new leadership to take the Group into its next phase of transformation. 

ASX Chair David Clarke said: “Helen took the CEO role at an exceptionally challenging time for ASX. She took the difficult decision to stop the previous CHESS project and reset it, and she has driven a significant uplift in our technology investment and delivery, and risk focus. 

“After careful consideration, and as we approach go-live for CHESS Release 1, the Board and Helen have agreed this marks an appropriate turning point to commence the transition to a new CEO. 

“We will be looking for a new leader to extend the foundations built in recent years and drive the business forward while keeping customers and the market at the heart of our purpose.” 

Ms Lofthouse said: “It has been a privilege to serve at ASX for more than a decade and to spend four years leading an organisation that is at centre of Australia’s financial markets. 

“Since becoming CEO we have reset the CHESS project, refreshed our strategy, expanded technology investment and delivered a series of technology and resilience upgrades. While the pace of change has been intense in recent years, I’m very proud of our achievements in modernising technology, enhancing customer engagement, developing Group capabilities, and shifting our culture. 

“It has been a rewarding but demanding journey with enormous personal growth. Having reflected on what ASX needs for its next phase, together with the Board we have agreed that this is the right time for a new person to bring fresh energy to the work ahead. We’ve made great strides even as we’ve faced challenges and I want to thank everyone at ASX for their dedication and support and our customers for their partnership.” 

Succession 

The Board has engaged Korn Ferry to support a comprehensive process to identify our next CEO. The global search will also consider internal candidates. 

Mr Clarke said: “Our search process is underway and we will assess leaders who have strong credentials in financial markets, transformation and risk management. The Board has confidence in the capability and experience of ASX’s executive leadership team, and internal candidates will be considered alongside external candidates as part of a robust process. 

“While the search process will be comprehensive, it will not slow our momentum to deliver strategic priorities and the Board maintains ongoing and active oversight. Our Executive team remain fully accountable for execution of key deliverables and there is no change to our major initiatives and programs. 

“The Board’s focus is on operating reliable, resilient critical market infrastructure and ensuring we play an active stewardship role to deliver a future-focused exchange.”

FF NEWS TAKE:

The real inflection point will be CHESS go-live. If the rollout proceeds smoothly, the incoming CEO inherits a platform reset and a credibility rebuild. If challenges emerge, leadership continuity will be tested early. Either way, ASX’s next phase will likely focus less on crisis recovery and more on long-term competitiveness, innovation and strengthening its role as a resilient, future-ready exchange in an increasingly digital capital markets environment.