Steadfast Group’s CEO, Robert Kelly, has stepped aside temporarily as the company investigates a workplace complaint against him. The announcement came just ahead of the firm’s Annual General Meeting, where leaders are expected to address shareholders about the situation. The firm, which is a major Australasian brokerage expanding in the US, stated that Kelly will continue to receive full pay while the inquiry is ongoing.
The company has not disclosed specific details about the complaint, but reports from the Australian Financial Review suggest the investigation involves claims of sexual harassment. However, the newspaper emphasized that no wrongdoing has been alleged against Kelly at this stage.
To ensure the company’s operations continue smoothly, Tim Mathieson, the CEO of Australasian Broking at Steadfast, has been appointed as the acting CEO. Meanwhile, Steadfast’s shares have been placed on a trading halt as the investigation takes place.
The company has refrained from commenting further, noting that no allegations have been substantiated to date and it would be inappropriate to speak more while the investigation is active. This development puts Steadfast in a challenging position as it manages both corporate governance and shareholder trust during the probe.