Flutter restructures board duties as critical US options dawn

Flutter Entertainment Plc has restructured its boardroom duties following the departures of company directors’ Divyesh ‘Dave’ Gadhia and Peter Rigby.

During Q1 trading, Gadhia, Flutter’s Deputy Chairman and long-term Non-Executive Director Rigby announced that they would resign from all commercial duties representing the FTSE100 company.

Following the conclusion of Flutter’s AGM, Gadhia and Rigby have been formally replaced by the appointments of VICE Media CEO Nancy Dubuc and US corporate finance expert Holly Koeppel, who will serve as company Non-Executive directors. 

As of 29 April, Flutter Senior Director Andrew Higginson, the current chairman of Morrison Supermarkets, will serve as Flutter’s Chair of Remuneration overseeing the FTSE’s firm’s executive pay and rewards policy.

Gary McGann, Flutter Chairman since 2015, will expand his boardroom duties by taking leadership of Flutter’s Nomination Committee, responsible for overseeing the firm’s executive leadership appointments.

The update follows the publishing of Flutter’s positive Q1 trading results, in which the company revealed that its US FanDuel asset had registered a 135% increase in revenues, with growth outpacing its long-established European and Australian units.  

Betting analysts are monitoring Flutter’s movements closely as the company weighs up an independent US public listing for FanDuel, with the intention of further propelling the brand’s growth prospects against fast-changing market dynamics across North and South America.