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McCue instigates management reshuffle

11 December 2014

NEW Paddy Power chief executive Andy McCue has started to shape his senior management team with a reshuffle in which three executives move to new positions.

The changes take effect from January 1 when McCue himself takes over from Patrick Kennedy as chief executive.

Paddy Power Online managing director Peter O'Donovan has been appointed chief product officer, a newly-created role which brings together the technology and product development teams across Paddy Power and games developer Cayetano in Bulgaria.

Director of operations Johnny Hartnett takes over as managing director of Paddy Power Online with responsibility for and, together with Dial-a-Bet and customer operations.

Global marketing director Christian Woolfenden has been named as the new managing director, retail (UK & Ireland). McCue had been head of retail before being named as Kennedy's successor.

McCue said: "These appointments reflect a strategic emphasis on customer and product. I am delighted to be filling these positions with high calibre individuals with a proven track record of success in the group."

Analyst David Jennings of Davy described the news as the first indication of how McCue intended to shape the group.

And Gavin Kelleher of Goodbody said: "We view these appointments as positive as they are further evidence of Paddy Power appointing from within the group.

"We also view the creation of a group wide role 'chief product officer' as a progressive move given that product differentiation is a key area of competition in the sector at present."

Paddy Power shares were down slightly at €65.28 at 10am on Tuesday following the news.

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