London-listed operator Paddy Power Betfair has confirmed that Alex Gersh will be stepping down as chief financial officer after six years with the group.

The company said that Gersh has advised the board that he intends to step down from his position once a successor has been appointed.

He has served as CFO of Paddy Power Betfair since February 2016, and prior to the merger held the same role at Betfair Group since December 2012.

Paddy Power Betfair confirmed that the board has appointed an executive search firm to assist with the process of appointing a successor.

Shares in Paddy Power Betfair plc (LSE:PPB) were trading down 0.60 per cent at 8,245.00 pence per share in London Monday morning.

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