Ladbrokes is to begin a search for a new chief executive officer after the bookmaker confirmed that Richard Glynn is to step down from the role.
Glynn was appointed to the position in April 2010 and was given a mandate to implement a recovery programme within a five-year term, which is due to conclude next year.
Following discussions with the board, Glynn has agreed to complete his term and continue in his role into next year before stepping down from the position.
The Ladbrokes board will shortly commence a progress to identify a successor, with the search set to evaluate both internal and external candidates.
Once an appointment has been made, Glynn has agreed to remain in his post in order to ensure an orderly transition.
“It has been a privilege to lead Ladbrokes over this crucial phase,” Glynn said.
“I am very proud of the resilience and professionalism the team has shown during this intense period of activity. It is the right time for Ladbrokes to identify my successor.
“I look forward to the company, the shareholders, our partners and in particular everyone in the team reaping the benefits, over the next few years, of all that has been sown.”
In a statement, Ladbrokes said over the course of the past 12 months, it has become “increasingly clear” that the necessary organisational and operational changes have been implemented and the benefits of the transformation plan are beginning to come through.
The bookmaker also noted that it is currently trading in line with its expectations for the current year and is confident that 2015 will see further operational and financial progress.
Ladbrokes chairman Peter Erskine added: “On behalf of the board, I would like to thank Richard for his leadership of the company and his considerable achievements in delivering a new digital future for Ladbrokes.
“He has devoted enormous energy and dedication to securing the transformation of the company and the benefits of that work are beginning to be seen.
“Ladbrokes has been transformed and is a far stronger company as a result of his work.”
source : www.igamingbusiness.com
