Former Ladbrokes CEO Richard Glynn

Former Ladbrokes CEO Richard Glynn Richard Glynn recently left the company after a few not-so-successful years but received hefty severance payments and stirred some political controversy in the process. Over the next 12 months the former CEO will receive GBP 1.7million, which apparently includes damages of GBP 846,000 and a potential bonus all despite a more than 60 percent drop in group profits. Glynn’s annual salary before the departure was reportedly GBP 580,000.

The controversy started this week when Glynn appeared on a list of 100 leading British businessmen, voicing their support for the Conservative Party in the upcoming UK general election. His name was followed by the Ladbrokes company title, implying that he was still with the company. It’s not clear if this was done by accident or intentionally but it did provoke critics keen to discount the impact of the exercise.

Glynn's successor at Ladbrokes, Jim Mullen, issued a statement regarding the use of the company’s name:

"You may have seen our ex-CEO joined business leaders in signing a letter in the Daily Telegraph yesterday. He like all voters is entitled to his view.

"However, I want to make it clear that our business is to take bets on the General Election, not to tell people how to vote. There are many shades of political opinion in our workforce of 15,000 never mind ex-employees or our customer base of millions of people.

"My vote is worth the same as theirs and their choice of vote is their business. So I won't be signing any letters in this, or any other General Election, that seeks to tell people how to vote."

  • Richard Glynn not only "succeeded" to drop Ladbrokes profits with more than 60 percent but also put his former company into a serious political scandal. And for all that the guy will receive GBP 1.7million and a potential bonus. I don't know about Ladbrokes business but the man manage very well his own business.
  • Looks like the current Ladbrokes CEO has a sensible head on his shoulders and addressed the issue in the right way. As for the former boss, he was evidently trying to cling onto former glory by using his old title rather than just speaking for himself on a topic that he had no business dragging his former company's name into at all.
  • Good going Jim Mullen. That's it, nip it right in the bud....... I loved how the new CEO handled that situation, right to the point, no beaten around the bush. Using the Ladbrokes name after Richard Glynn was maybe an accident or maybe what they call accidentally on purpose. I didn't see the list of 100 names, but if all the signatures were followed by a title, I'm sure the only other option they had was Richard Glynn, unemployed.......... Now how would that look, LOL........

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