Tuesday 27 September 2016

Chairman to steps down at Ladbrokes

Paul O'Donoghue

Published 08/05/2015 | 02:30

Bookmakers like Ladbrokes in Ireland are finding it difficult to keep their shops open due to increasing overheads
Bookmakers like Ladbrokes in Ireland are finding it difficult to keep their shops open due to increasing overheads

Britain's second biggest bookmaker, Ladbrokes, has announced that chairman Peter Erskine is to step down this year, marking the latest management change after a new chief executive was appointed in March.

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Mr Erskine, who has been in the role since 2009, said that with new chief executive Jim Mullen in place he felt it was the right time for a change in chairman.

Mr Mullen has been tasked with managing a retail business under tough regulatory pressures and with improving its offering in the increasing popular online market where Ladbrokes has lagged rivals.

An examiner was appointed by the High Court to the Irish operations of the UK firm last week. The company is trying to restructure its Irish arm, which has seen its profits slide in recent years.

The firm is expected to close 60 shops and cut about 250 jobs. Ladbrokes employs 840 people in Ireland and operates 196 shops.

It said last month that the division made a €5m loss.

Irish Independent

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