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Glynn exits Ladbrokes

11 December 2014


LAST week was always going to be important for the betting industry given the Responsible Gambling Trust's research into gaming machines was set to be published and point of consumption tax came into force, although that is now set to be the subject of a judicial review. It was considerably more significant than expected.

First there was the news Richard Glynn is to leave his position as chief executive of Ladbrokes in 2015 after five turbulent years.

Glynn was appointed Ladbrokes chief executive in April 2010 to lead what was described at the time as the 'reinvigoration' of the bookmaker.

However, the firm struggled to keep up with rivals - especially William Hill - in the online sector and following a number of profit warnings there was talk of shareholder unrest and much speculation Glynn would lose his job.

Glynn survived and in recent months there have been signs of improvement following Ladbrokes' deal with gambling technology specialists Playtech.

Nevertheless Ladbrokes said last week that Glynn was going following discussions between the chief executive and the board, with the process to identify a replacement having already started.

Nick Rust, who is set to take the job of the BHA's new chief executive next year, had been regarded as the leading internal candidate - although Ladbrokes chairman Peter Erskine was later quoted as saying Rust would not have been in the running anyway.

The likes of outgoing Paddy Power chief executive Patrick Kennedy, Betfair chief executive Breon Corcoran and ex-William Hill Online chief Henry Birch, along with Ladbrokes digital managing director Jim Mullen, have all been mentioned as potential replacements.

However, another name emerged later in the week in the form of former Ladbrokes sports and football director Patrick Jay who has returned to Britain having left the Hong Kong Jockey Club this month.

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