Ladbrokes retail director Nick Rust has been named as the new chief executive of the British Horseracing Authority (BHA), replacing Paul Bittar who announced in August that he would step down from the role.
Rust is expected to leave Ladbrokes in April 2015 in order to assume his new role, having served as the British bookmaker’s retail director since 2011.
In a statement Wednesday, Ladbrokes said that Rust will no longer be involved in any discussions affecting horse racing or racing industry relations during his remaining time with the company.
“Nick has played a significant role in Ladbrokes since he rejoined us in 2011 to help transform our retail offer,” commented Ladbrokes chief executive Richard Glynn. “He has created a strong team who have been running the day-to-day business for some time and who have a clear view on what needs to be done to keep the retail offer highly competitive.”
The company added that there are no immediate plans to replace Rust in the role due to the strength and experience of the teams that are currently in place across the business. Instead the company will work with the existing teams to ensure that the “positive momentum” in the business is maintained.
Shares in Ladbrokes plc (Co. Data) (LSE:LAD) were trading up 0.35 per cent in London early Wednesday at 114.40 pence per share.