Boylesports chief resigns after six months for 'family reasons'
THE chief executive of betting giant Boylesports has resigned after less than six months in the job, while another senior executive defected to Sky Bet.
Boylesports marketing boss Mark Nunan yesterday confirmed that both chief executive Lee Richardson and 'head of online' Conor Grant had left the company.
"John Boyle [the Boylesports founder] will be acting chief executive for the foreseeable future," Mr Nunan added.
"We'll make a further announcement in due course."
With a turnover of more than €1.1bn in the 78 weeks to December 2008, Boylesports is one of Ireland's largest bookmakers and also has significant online operations.
Mr Richardson had been in the top job since March, relieving Mr Boyle of a stint in the acting chief executive's chair after the surprise departure of Daniel O'Mahony in April 2009.
"Lee's departure is purely for personal family reasons," Mr Nunan said last night, citing the difficulties of commuting from Boylesports' Dundalk headquarters to Mr Richardson's family base in the UK.
Mr Nunan said Mr Grant left for "career progression" with Sky Bet. "We wish him the very best," Mr Nunan said, adding that Boylesports was "actively looking" for a replacement.
The most recent accounts filed by Boylesports Holdings show profits of €7.6m in the 78 weeks to December 2008, significantly down on the €12m in the 53 weeks to June 2007.
Trading conditions in 2009 are understood to have been difficult.
"The retail business has seen a strong turnaround," Mr Nunan said. "We put in place a series of cost savings . . . and we're very happy with our future.
"We're envisaging that we will be a profitable entity this year," he added.