Hornby, the former chief executive of Alliance Boots and HBOS, has been appointed chief executive of Coral, the bookmaker, ending a year long search to find a replacement for Nick Rust, who left to join Ladbrokes last year.
Hornby stood down from Alliance Boots, owner of the high street chemist, in March, after saying he needed “a few months’ break” following “an intense five years.”
Hornby had previously been chief executive of HBOS during the financial crisis, when saw losses of £11bn before it was bought by rival Lloyds Banking Group.
A spokesperson for Coral confirmed that the firm had announced the appointment internally on Friday and Hornby started in his new role yesterday, following weeks of speculation surrounding his appointment.
“We are delighted to confirm that Andy Hornby has been appointed chief executive and will be responsible for Coral’s retail and online operations,” he said.