Robert Kelly Steadfast Group CEO “stands aside” as complaint investigated

Steadfast Group leaders are currently addressing shareholders at the firm’s Annual General Meeting following Robert Kelly’s decision to step down from the CEO role. Earlier, a Sydney ASX announcement said Kelly has “chosen to stand aside on a temporary basis” while an external investigation into a “workplace complaint against him” is carried out.

The announcement - by the giant Australasian brokerage with a growing US presence - said Kelly will remain on full pay for the duration of the investigation.

“Given that the investigation into the allegations against Mr Kelly AM is ongoing, and that to date no allegations against him have been substantiated, it would not be appropriate to comment further at this time,” said the announcement.

The Steadfast Board has appointed Tim Mathieson, CEO Australasian Broking as acting CEO.

The Australian Financial Review, citing “people familiar with the matter,” said the investigation relates to claims of sexual harassment. The paper added that it “is not suggesting any wrongdoing by Kelly.”

The firm has placed its shares on a trading halt.