The ASX has appointed Dominic Stevens as its new chief executive, replacing Elmer Funke Kupper who resigned in March amidst bribery allegations relating to his time as CEO of gaming firm Tabcorp.

Stevens has served on the ASX board since 2013, and was the CEO of investment firm Challenger between 2008 and 2012. He will start in the new role immediately.

Stevens, who was named as the natural successor to Funke Kupper by ASX chairman Rick Holiday-Smith, comes with more than 30 years of industry experience.

The former CEO, Funke Kupper, stepped down from the top job as police began an investigation into a $200000 payment made by Tabcorp to the family of the Cambodian Prime Minister Hun Sen.

Made in 2010, the payment was made while Tabcorp was attempting to obtain a Cambodian online gaming operation licence in 2010.

The ASX board has also appointed Melinda Conrad as a non-executive director as part of the company’s board renewal program.

Conrad, who serves as a non-executive director of OzForex Group Limited and the Reject Shop Limited, will take up the role immediately.