Ladbrokes Coral gets new CFO, Capita loses non-executive

GALA CORAL CFO Paul Bowtell has officially become the new finance chief of the newly merged Ladbrokes Coral, on completion of its merger on Tuesday.

As part of his move, finance chief Bowtell is stepping down from his role as non-executive director next year at outsourcing company Capita, the group announced on Tuesday, as he takes up his new role as chief financial officer at the enlarged betting group.

Bowtell will remain on Capita’s board until after the outsourcing group announces its annual results next March.

Capita has begun a search for a new non-exec to replace Bowtell.

His move into the CFO position for the merged business, having served at Coral, was confirmed last year, with Ladbrokes’ CFO Ian Bull missing out.

Commenting on the completion of the merger, Ladbrokes Coral Chairman John Kelly said: “In uniting these two businesses we are bringing together some of the best known and admired brands in betting and gaming. Together, we have the opportunity to grow the business building on our scale, the digital opportunity we have in our markets, our international presence and through delivery of significant synergy savings.

“We have a strong management team in place and are already well placed to set about the creation of a new business with a clear focus on delivering the opportunities the completion of the merger offers us.”

Further reading: Gunning for your job – Securing the CFO role in a merger