Ladbrokes CEO Richard Glynn to step down next year

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(Source: Wikimedia)

Bookmaker Ladbrokes has announced that chief executive Richard Glynn will step down next year after four years with the FTSE 250 company.

Glynn took up the role in April 2010 with hopes to transform the business to adapt to the new developments in the gaming industry, particularly around digital services.

Peter Erskine, chairman of Ladbrokes, commented:

Ladbrokes has been transformed and is a far stronger company as a result of his work.

Richard Glynn said:

It has been a privilege to lead Ladbrokes over this crucial phase. I am very proud of the resilience and professionalism the team has shown during this intense period of activity. It is the right time for Ladbrokes to identify my successor.

Last month, Ladbrokes revealed that retail director Nick Rust will be leaving the company in 2015 to take up a new role as the chief executive of the British Horseracing Authority.

Rust had been with the gaming company for three and a half years and there are no plans as of yet to replace him. Ladbrokes has had trouble keeping pace with rival bookie William Hill, especially in the growing online gambling market.

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