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Departure date set for Ladbrokes CFO

THE departure timetable for Ladbrokes’ CFO has been outlined.

Ian Bull is set to leave the Ladbrokes chief financial role in February 2016. His role becomes subsumed as part of the process to merge Coral and Ladbrokes. Coral CFO Paul Bowtell has already been chosen as the finance head when the entities become one.

Bull, who joined Ladbrokes in 2011, stays on until the gambling business completes its 2015 full-year results. If the merger completes beforehand, Bull will step down shortly after that point. If the merger is still being completed post-results, “appropriate arrangements” will be put in place.

“Ian has worked tirelessly through what have been challenging times and has helped steer Ladbrokes to this exciting point in its journey,” said Ladbrokes chairman Peter Erskine.

“We are pursuing an aggressive organic plan to build a stronger Ladbrokes as well as working on the proposed merger with the Coral Group, which will create a leading betting and gaming business and deliver substantial synergies.”

The industry is undergoing substantial strategic and operational change, looking to build mass and invest in online service. Betfair and Paddy Power are also looking to merge, with Betfair’s Alex Gersh set to take the finance role upon deal completion.

Experienced finance chief and plural non-executive Darren Shapland is also to leave Ladbrokes’ board. Philip Bowcock is set to join William Hill as CFO.

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