UK bookmaker Ladbrokes has appointed Arriva CEO David Martin as a non-executive director of the company, replacing John Jarvis who will be retiring from the board next year.
Martin is currently CEO of Arriva, one of Europe's largest passenger transport providers, which was purchased by Deutsche Bahn in 2010. He joined the Arriva board in 1998 with specific responsibility for the group's international operations and development and has been CEO since 2006.
His appointment as non-executive director takes effect on October 31st and follows the decision by John Jarvis to retire from the board at Ladbrokes’ Annual General Meeting next year.
Jarvis has been an independent non-executive director since July 2006 and is chairman of the board's Remuneration Committee. He was previously chairman of Sporting Index, and has also been involved with various organisations over his career including Apollo Genting, the Jockey Club, United Racecourses.
Between 1979 and 1990, he was an executive director of Ladbrokes, and chairman of Hilton International between 1987 and 1990.
Martin will also succeed Jarvis as chairman of the Remuneration Committee.
Ladbrokes chairman Peter Erskine said: “I am delighted to welcome David to the board. His extensive management experience, notably of international operations, is particularly relevant at this stage of the group's development and will complement the existing skills of the board.
“I would also like to extend my thanks to John for his significant contribution to the deliberations of the board over many years and we wish him well in his future retirement.”
Shares in Ladbrokes plc (Co. Data) (LSE:LAD) are currently trading down marginally 0.53 per cent at 168.10 pence per share in London this morning.