Yesterday the ASX Board announced it had accepted the resignation of ASX managing director and chief executive officer Elmer Funke Kupper, effective immediately. He had been CEO since 6 October 2011.An ASX media release noted: "The ASX Board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter - and not have them interfere with the important role of leading the ASX."Tabcorp, for its part, announced yesterday that it had granted Funke Kupper's request for a leave of absence from the Board of Directors "until the completion of the investigation by the Australian Federal Police into Tabcorp's activities in relation to a business opportunity in Cambodia in 2009-10."Fairfax Media reported a week ago that the "Tabcorp matter" referred to is an allegation that the gaming company paid A$200,000 to relatives of Cambodian Prime Minister Hun Sen.ASX Chairman, Rick Holliday-Smith, will take on a role of executive chairman while a national and international executive search is made for a replacement.The ASX Board also decided that Funke Kupper will be paid in lieu of the notice period in his contract, 2016 pro-rata STI, and the 2014 and 2015 deferred STI on 1 July 2016 and 1 July 2017, respectively. This has been estimated to equate to a payment of $1.7 million.