12 July 2012
LADBROKES have begun the recruitment process after sacking two senior managers on the grounds of gross misconduct, writes Graham Green.
Neither Jon Thompson, former director of liabilities, or Mark Fogarty, former head of racing product, were able to save their jobs after going through the company's appeal process.
The dismissals follow an investigation launched in May into how the bookmaking giant's trading department was being run.
Thompson joined Ladbrokes 18 months ago from Bodog and among his responsibilities was attempting to sort out the digital side of the business.
Fogarty, who had 14 years service with the firm, was promoted last September as part of Thompson's overhaul of the trading department, which is responsible for prices offered and bets accepted.
Both men were abroad on holiday last night and could not be contacted.
Ladbrokes have remained tight-lipped about the affair, but while the probe is believed to have encompassed the handling of accounts held by the firm's high-rolling punters, the inquiry remained in-house throughout and there has been no police involvement.
In a statement, the firm said: "Ladbrokes can confirm that following the completion of its internal human resources appeal process, Jon Thompson and Mark Fogarty have been dismissed for gross misconduct following separate and unrelated failures to adhere to company procedures."
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