Ladbrokes has announced a number of changes to its board as it prepares for its transition to a merged entity with Coral, with two independent directors stepping down to make way for new appointments.
Mark Clare will join Ladbrokes as a senior independent director (SID) and chairman of its social responsibility committee, while Stevie Spring has been named an independent non-executive director and chair of the board’s remuneration committee.
Effective September 21st, the appointments have been confirmed as part of the operator’s shift towards its merger with Coral, and as a result Sly Bailey, former CEO of newspaper publisher Trinity Mirror, and former CEO of Arriva Trains David Martin have stepped down from their seats on the board after seven and three years respectively.
These changes have prompted further reshuffles in Ladbrokes’ other board committees. Independent non-executive director Mark Pain has been appointed to the remuneration committee alongside Clare, who also joins its nomination committee. Spring has been appointed to the audit, nomination and social responsibility committee.
Clare has previously served as chief executive of residential property developer Barratt Developments and as an executive director of UK-based utilities company Centrica. Spring, meanwhile has served as CEO of magazine publisher Future plc and the UK subsidiary of global media conglomerate ClearChannel.
“I am delighted to be appointing Mark Clare and Stevie Spring to the Ladbrokes board,” chairman John Kelly said. “As part of the merger, we undertook to appoint new non-execs and a SID that had not been part of either the Ladbrokes or Coral board prior to the announcement of the transaction.
“The expertise and experience they will bring will be a valuable addition to guiding the newly merged company on its journey to be an international industry leader,” he said.
Kelly also paid tribute to the departing Bailey and Martin, noting that they left “ the business in the best shape for the opportunities ahead.”