LONDON (Alliance News) - Ladbrokes PLC on Wednesday said Chief Financial Officer Ian Bull will step down from the company in February next year following the merger of Ladbrokes with rival Gala Coral Group Ltd.
Once the merger is complete, Coral's CFO Paul Bowtell will become finance director of the merged company, and if the completion occurs sooner than February, Bull will leave shortly after that time.
"Ian has worked tirelessly through what have been challenging times and has helped steer Ladbrokes to this exciting point in its journey. We are pursuing an aggressive organic plan to build a stronger Ladbrokes as well as working on the proposed merger with the Coral Group, which will create a leading betting and gaming business and deliver substantial synergies," Ladbrokes Chairman Peter Erskine said in a statement.
Ladbrokes and Gala Coral agreed the merger in July, which will create a company with a market capitalisation of around GBP2.1 billion and the largest bookies retail estate in the UK.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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