Former Paddy Power chief executive Andy McCue is leaving the business following the completion of its merger with Betfair.
McCue has served as chief operating officer and executive director of Paddy Power Betfair since the merger was completed in February, having previously served as Paddy Power’s chief executive from January 2015 until the merger completion.
He will leave the business to pursue new opportunities on April 30th, also stepping down as director on the same day.
McCue joined Paddy Power in 2006 as deputy head of UK retail before taking over the division in 2010. In 2012 he assumed responsibility for the operator’s retail business in Ireland as well as the UK, before being named chief executive designate in 2014 after Patrick Kennedy announced he would leave the company.
“Andy has played a pivotal and hugely constructive role in the successful merger, for which I am very grateful,” Paddy Power Betfair chief executive Breon Corcoran said.
“As CEO of Paddy Power, he led the business strongly, embedding a new growth strategy which delivered record revenues and profits. His contribution to Paddy Power in a variety of roles, but particularly as CEO, was immense. I wish him every success in his future career.”
“I leave Paddy Power Betfair following the completion of the merger and in the knowledge that this combination will be greater than the sum of its parts,” McCue said. “I have thoroughly enjoyed leading and working closely with a great team of people who have created a dynamic and successful business.
“I feel now is the right time to pursue new opportunities and, in doing so, wish everyone in Paddy Power Betfair the very best for the future.”
Shares in Paddy Power Betfair plc (LSE:PPB) were trading down 2.22 per cent at 9,035.00 per share in London early Wednesday.