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Reeve leaves role with Paddy Power

20 September 2013

WILLIAM Reeve, the co-founder of online movie-rental business LOVEFiLM.com, has stepped down as Paddy Power's head of operations.

A former non-executive director with the bookmaker, Reeve had been head of operations for the past 12 months but is set to pursue another business opportunity outside the gambling sector, according to reports.

His departure comes less than two years after another top executive, Breon Corcoran, left Power to become Betfair's CEO.

Among his roles with Ireland's largest bookmakers, Reeve oversaw technology and corporate strategy and helped online sales deliver over three-quarters of the bookmaker's profits in the first half of this year.

"He wishes, as a next step, to pursue opportunities in the commercial area," a Paddy Power spokesman told the Sunday Independent. "Paddy Power is grateful to William for his contribution to the management of the infrastructure of the business and wishes him well in his future endeavours."

LOVEFiLM.com, founded in 2003, was bought by Amazon in 2011.

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