Flutter Entertainment has named Rob Coldrake as its new group chief financial officer (CFO) after transitioning its primary share listing to the New York Stock Exchange (NYSE).

Coldrake takes over with immediate effect from Paul Edgecliffe-Johnson, who will step down as group CFO and executive director, a role he has held since March 2023.

With its primary listing moving to New York, Flutter said that extensive executive management time would have to be spent in the United States.

The company’s Board recently engaged in discussions with Edgecliffe-Johnson concerning his ability to meet that requirement in light of his family commitments in the UK, and concluded that it was in the company’s best interests for Edgecliffe-Johnson to step down.

Flutter’s new group CFO, Coldrake, most recently served as CFO of Flutter International, a role he has held since joining the group in 2020. He previously spent 14 years at TUI Travel in a variety of financial roles, having started his career with PricewaterhouseCoopers.

“I am delighted that Rob will become our next group CFO,” said Flutter CEO Peter Jackson. “During his four years at Flutter, he has shown himself to be a CFO of exceptional calibre and his skills and experience will help us to take advantage of the significant opportunities before us.

“I would like to thank Paul for his contribution to the group, particularly in relation to achieving our US primary listing, and I wish him and his family well.”

Flutter chair John Bryant commented: “The Board welcomes the appointment of Rob as group CFO and is especially delighted we were able to develop such a high-quality executive within our own business. We look forward to working with him and the team into the future. I would also like to take the opportunity to wish Paul well and to thank him for his contribution to the group.”

The appointment coincides with the commencement of Flutter’s primary listing in New York.

Its shares remain eligible for and continue to trade on the Main Market of the London Stock Exchange (LSE) on the Standard Listing segment.

“Today marks an important milestone in the evolution of Flutter with the commencement of our primary listing on the New York Stock Exchange,” said Jackson. “This closely follows the recent move of our operational headquarters to New York, with both reflecting the increasing importance of the US sports betting and iGaming market to our business.

“We have a fantastic position in the US, with FanDuel the clear number one operator, and we look forward to this next step on our journey.”

Shares in Flutter Entertainment plc (NYSE:FLUT) closed 1.13 per cent higher at $187.90 per share in New York Thursday.