Rank Group has begun the search for a new chief executive officer to replace John O’Reilly, who will step down later this month.
O’Reilly has served as CEO of Rank Group since 2018 and has informed the Board that he intends to step down on 29 January, although he will continue to assist the company until the end of the current financial year which closes in June.
Rank Group chief financial officer Richard Harris will assume O’Reilly’s role on an interim basis until a permanent chief executive is recruited.
“On behalf of the Board and everyone at Rank, I would like to express my sincere thanks to John O’Reilly for his leadership of and passion for Rank since his appointment as CEO in April 2018,” said Rank chairman John H. Ott.
“His extensive gambling industry knowledge and experience, as well as deep operational skills have combined to ensure that Rank is well positioned to build on the direction he established. In addition, John has contributed significantly to the betting and gaming industry for decades. We wish him all the very best.”
Ott added: “As interim CEO, the Board are confident Richard Harris will provide both important continuity and the strategic leadership required to drive the performance of the business and maximise shareholder returns. The Board and I look forward to continuing to work closely with him to realise those ambitions.”
O’Reilly said: “It has been a privilege to lead Rank for the past seven and a half years, and I am proud of all that we have accomplished in that time. I am pleased that Richard will now take Rank to the next stage of what I am sure is a bright future and wish the Group every success.”
Shares in Rank Group plc. (LSE:RNK) closed at 96.10 pence per share in London Monday, prior to this morning’s announcement.