Tag Archives: Andy McCue

Andy Hornby steps down from GVC to join The Restaurant Group

Co-chief operating officer of GVC Holdings, Andy Hornby, is to step down from his position at the gambling giant to join The Restaurant Group as its new CEO. Hornby will be replacing the outgoing CEO, Andy McCue, at the Restaurant Group once an official transition date has been confirmed. Originally joining Gala Coral in 2011, Hornby has previously held positions …

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‘Fair, Transparent and Balanced’ – Gary McGann defends Paddy Power Betfair executive pay policy

Addressing executive remuneration at Paddy Power Betfair (PPB) first ever AGM, Chairman Gary McGann stated that the company had implemented a ‘fair, transparent and balanced’ policy. McGann noted concerns on the matter, following 32% of shareholders voting against PPB’s executive pay report at the meeting. PPB’s Chairman stated that the divide stemmed from a change in the new group’s long …

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PIRC attacks Paddy Power Betfair executive payment scheme

Paddy Power Betfair (PPB) is the latest FTSE-listed company to face a potential shareholder dispute concerning executive pay and compensation. Issuing a public statement, shareholder advisory group Pensions & Investment Research Consultants (PIRC) has called for PPB shareholders to reject the pay package of former Paddy Power CEO Andy McCue. Ahead of PPB’s annual general meeting, PIRC has stated that …

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Andy McCue exits Paddy Power Betfair

Newly merged Paddy Power Betfair has confirmed that Chief Operational Officer (COO) Andy McCue has decided to step down from his leadership role at the FTSE 100 listed operator. The announcement of McCue’s departure will surprise many industry commentators, who had predicted that McCue would likely succeed Breon Corcoran as CEO of Paddy Power Betfair in the near future. McCue …

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New leadership team takes over at Paddy Power Betfair

Having secured a listing day share price of £105 on the London Stock Exchange, newly merged betting enterprise ‘Paddy Power Betfair’ confirmed its new governance team, which will lead the company post-merger integration. ‘Paddy Power Betfair’ will be led by former Betfair CEO Breon Corcoran, who will serve under the Chairmanship of Gary McGann (former CEO of Smurfit Kappa Group). …

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Paddy Power Betfair gets shareholders’ YES vote

There will be no time to celebrate Christmas for Paddy Power and Betfair governances as the shareholders of both companies have agreed outright to approve the £6.2 billion merger deal. Holding simultaneous ‘extraordinary meetings’ on Monday 21 December in which shareholders filed their votes, the merger deal saw a 99% investor approval, gaining a further significant step towards the creation of …

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Paddy Power to send Betfair merger prospectus to investors

Shareholders in Paddy Power will receive a detailed prospectus outlining plans and initiatives for the company’s planned £6.4 billion merger with rival Betfair. Investors are set to receive the prospectus, ahead of voting on the deal at an extraordinary general meeting. At present, Ireland’s Competition and Consumer Protection Commission’s (CCPC) is set to complete its Phase 1 competitor review by …

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Paddy Power Retail MD Christian Woolfenden exits

The Irish Independent has reported that Paddy Power Retail Managing Director Christian Woolfenden has left the operator, moving back to the UK. The newspaper reports that, Head of Retail Operations Dan Taylor, will fill the role vacated on an interim basis. Woolfenden leaves Paddy Power following five years’ service, primarily as Chief Marketing Officer (2010 – 2014). During his tenure …

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Paddy Power – Betfair merger enters phase 1 CCPC review

The planned £6.2 billion (€7.5 billion) Paddy Power/Betfair merger has entered its phase one probe by the Irish Competition & Consumer Protection Commission (CCPC). Since the merger was first announced on the 25 of August, Paddy Power and Betfair governances’ have been working together to submit the planned proposal to the CCPC. The CCPC will now review the operators’ plans …

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Paddy Power & Betfair agree on merger terms & conditions

Issuing an investor update this morning, Betfair and Paddy Power governances have confirmed that terms and conditions of their proposed £5 billion merger have been agreed on. The announcement sees Paddy Power agreeing to acquire Betfair assets at a value of £2.86 billion ($3.2 billion). Once completed the planned merger will result in Paddy Power shareholders owning 52% of the …

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