Ladbrokes announced that Chief Executive Officer Richard Glynn will step down next year after four years leading the UK bookmaker and FTSE 250 Company.
Richard Glynn was appointed CEO of Ladbrokes in April 2010 with hopes of turning around the operators performance, Glynn had emphasised that Ladbrokes would focus on creating market leading igaming and online sports betting product offerings.
Today Peter Erskine, Chairman of Ladbrokes, commented:
“Ladbrokes has been transformed and is a far stronger company as a result of his work”.
Glynn commented on his departure:
“It has been a privilege to lead Ladbrokes over this crucial phase. 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”.
Glynn’s departure as CEO, is the second senior outgoing of Ladbrokes management, last October Ladbrokes revealed that retail director Nick Rust will be leaving the company in 2015 to take up a new role as the chief executive of the British Horseracing Authority.
Rust had been with the gaming company for three and a half years and there are no plans as of yet to replace him. Ladbrokes has had trouble keeping pace with rival bookie William Hill, especially in the growing online gambling market.