Ladbrokes CEO Stepping Down in 2015

Ladbrokes’ CEO Richard Glynn has announced that he will step down in 2015.

Ladbrokes has had difficulty competing with major operator William Hill plc and Glynn was selected four years ago to boost the brand’s presence. Although the rise in profits has not been significant enough for shareholders, Glynn and Ladbrokes will part amicably.

Chairman Peter Erskine said, "It has been a privilege to lead Ladbrokes over this crucial phase. I am very proud of the resilience and professionalism the team has shown during this intense period of activity. It is the right time for Ladbrokes to identify my successor."

A Ladbrokes statement read:

"Following extensive and constructive discussions between the board and Richard, it is intended that he will complete his term and continue in his role as CEO into 2015."

Ladbrokes will begin the hunt for a replacement so if any of you are interested….
  • Jade lcb

    jade

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    A resignation or termination announcement with an advertisement for a replacement all in the same article. Very cost conscious I see. I saw somewhere that the chairman said that the real reason for the lack of success is “economic and regulatory headwinds.” Then it went on to say that those headwinds didn't effect Will Hill whose shares rose 75% since Glynn took over Ladsbrokes. Good luck to the new CEO
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    g4gayla

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    One more thing just came to mind regarding the William Hill presence and the competition they are giving the international online casinos. IMO the one thing that set them apart from other similar casinos is the diversity in their games selection as a result of using several software providers. More and more online casinos are doing this and again, IMO this is crucial to remain in the top picks of the players. You can give free casino money out all day long and in the end the casino who has the best games and the best diverse selections will prevail.
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    g4gayla

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    This is sad but true... and the competition is so fierce in the online gaming industry. You must be ready to take the good as well as the bad and one hopes he enjoyed his time while he was there.
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    That is the way of corporate life. When expectations are not met then the ball rolls out of court. Meaning the person who they were counting on is out. Doesn't matter if there is a little increase or not to the board it might as well be nothing. Not sure if you ever hear the term "Its all or nothing" well that is what it means. I'm sure Ladbrokes CEO knew it was coming once each quarter did not meet what they were looking for. Just like I'm positive that he is not giving it his all right now but looking for his next job. A plan needs to be in place with real expectations. If it's real then they are achievable. But to put a plan in place and make people believe that they are achievable and don't make it then////the door is what you see next. But if it was the company that put a plan together and the Ladbrokes CEO went with it without advising what can and can not be done then ...lesson learned. Hopefully with the future CEO a true and achievable plan will be put in place. Good luck to the NEW Ladbrokes CEO.

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