GVC Holdings' chief financial officer Richard Cooper is to step down after almost a decade with the London-listed gaming operator, with Paul Miles joining from payday loans business Wonga as his replacement.

Cooper will leave GVC in February 2017 to pursue private business interests, having been involved in the evolution of the company from a small business focused on emerging markets to a leading FTSE250-listed operator.

GVC said that having played an integral role in the acquisition of bwin.party earlier this year, Cooper had expressed the desire to step down from his role while ensuring a smooth handover to a successor.

“Richard has been a key part of the GVC story over the past eight years and I personally would like to thank him for his significant contribution and wish him all the very best for the future,” GVC chairman Lee Feldman commented.

Cooper will be replaced by Paul Miles, chief financial officer of consumer credit provider Wonga.

Miles is a chartered accountant who has served in finance management roles in a number of regulated industries, with experience working online and for businesses with activities in a number of different territories.

Before joining Wonga he served as CFO of debt management company The Capquest Group, and previously acting finance director of life assurance operator Phoenix Group plc. 

“I'm delighted that Paul will be joining us and feel his skills and experience are an ideal match for a business of our international scale and ambition,” Feldman added.

Shares in GVC Holdings plc. (Co. Data) (LSE:GVC) hit a new 52-week high of 746.00 pence per share on the news in London early Tuesday.