Ladbrokes boss bets on £12m

LADBROKES’ incoming chief executive, Richard Glynn, could hit the jackpot with a “golden hello” worth £12m over five years.

Glynn, chairman of Sporting Index, will have to double the company’s share price from its current level of 158.3p over the period to receive the amount in full.

The 45-year-old replaces Chris Bell, who announced his departure in January after a 20-year stint. Glynn will be paid a basic salary of £580,000 per year, 10 per cent less than his predecessor, plus a one-off shares package worth £1.75m on starting.