Following completion of his one year fixed term of appointment, Carl Leaver has stepped down as a Director of Ladbrokes Coral Group plc.
In accordance with the Companies Act of 2006, Mr Leaver will receive his current salary, pension and benefits up until 31 October 2017 but will not receive any further fixed pay, notice pay or severance after this date.
John Kelly, Chairman of Ladbrokes Coral commented: “Over a period of 6 years, Carl led a major turnaround of the Gala Coral Group, culminating in the deal to merge with Ladbrokes to create Ladbrokes Coral Group plc.
“I would personally like to thank Carl for agreeing to join the newly merged company for a fixed one year term to drive the integration of the two businesses. Working with the management team, his leadership has been critical to the delivery of synergies well over double the original target. He leaves a business well-positioned for the future and we wish him well.”
Since the 2016 merger between Ladbrokes and Coral, financial results for the group have indicated the integration process is going smoothly between the two. In its last set of results, digital revenue led to a profitable H1 2017 period.
Looking ahead, given that Ladbrokes and Coral combined have over 3500 UK retail outlets, there is a potential period of uncertainty for the group as the government makes its decision on any future changes to regulations of gaming terminals.