Nigel Northridge, chairman of Paddy Power, has announced that he will step down from his role at the end of next month, when he will be replaced by current non-executive director Gary McGann.
Northridge has served as chairman for six years since January 2009, having sat on the board since July 2003, and will step down on June 30th.
He said that he had taken the decision to stand down after the appointment and transition to a new chief executive was completed, and after two three-year terms chairing the company.
“It has been a pleasure to have had the opportunity to serve on the board over the past 11 years,” Northridge said. “The group has made great strides in that time due in no small part to the endeavour and commitment of my board colleagues and of management, present and past, for which I thank them.”
Northridge will be replaced as chairman by Gary McGann, who was appointed a non-executive director of the company in November last year.
McGann currently serves as chief executive officer of packaging business Smurfit Kappa Group – the company founded by the family of GameAccount Network CEO Dermot Smurfit – a position he has held since 2002. He joined the business in 1998 as chief financial officer, and has also served as its president and chief operating officer.
Previously he has served as CEO of airline Aer Lingus and Irish alcohol manufacturer Gilbeys of Ireland. He is also chairman of financial services business Aon Ireland, a non-executive director of property company Green REIT plc and chairman of the Confederation of European Paper Industries.