Sunday 19 January 2020

Corcoran's future will need clarifying

Paddy Power Betfair’s CEO Breon Corcoran
Paddy Power Betfair’s CEO Breon Corcoran

Gavin McLoughlin

Paddy Power was remaining tight-lipped about CEO Breon Corcoran's future at the weekend, but the company will have to say something this week.

Half-year results are due tomorrow, but a Sky News report that headhunters have been engaged to find the Mullingar man's successor will probably overshadow the financials.

Some 18 months after the combined Paddy Power Betfair entity was born, the share price is performing sluggishly and investors will be keen to hear about growth plans.

Between this and Aryzta, chairman Gary McGann has a lot on his plate.

Elsewhere, Dublin-listed Zamano is holding its agm on Wednesday and shareholders will be anxious to hear what's next for the company. Zamano is in effect a cash shell after regulatory changes meant it decided to wind down its existing business lines. If it doesn't find a compelling acquisition or new strategy, the company has said it will return cash to shareholders.

Releases from the Central Statistics Office include the Residential Property Price Index for June, due on Wednesday, and inflation figures, which are due on Thursday.

Irish Independent

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