Paddy Power Chief Executive Officer Patrick Kennedy is set to step down from his role in April 2015. Kennedy will have served Paddy Power as CEO for nine years, having been appointed to the position in January 2006.
Commenting on his planned departure, Kennedy noted that ‘change is good, both for the company and the individual’.
Kennedy further commented “ I have loved every day of being Paddy Power’s chief executive. Iit is as fun and as interesting a job as anyone could hope to have, and I have had the privilege of working with some enormously talented and supportive people over the years that I’ve been here.”
Kennedy had given the Paddy Power board prior notice of his intended departure, giving notice well in excess of his contractual obligation.
Paddy Power will begin to search for Kennedy’s replacement in the coming months, with Chairman Nigel Northridge in charge of the executive search for Kennedy’s replacement. Both internal and external candidates are to be considered for the role.