Saturday 15 December 2018

Paddy Power confirms departure of CFO

Photo: Bloomberg
Photo: Bloomberg
Ellie Donnelly

Ellie Donnelly

Paddy Power Betfair has confirmed that its Chief Financial Officer (CFO) Alex Gersh will depart the company.

In a statement to the Stock Exchange this morning Paddy Power Betfair said that it noted media speculation regarding CFO succession, and confirmed that Alex Gersh had advised the board that he intends to step down from his position with the group once a successor has been appointed.

"The board has appointed an executive search firm to assist with the process of appointing a successor."

Mr Gersh’s decision to step down after six years comes after Breon Corcoran announced last summer that he was stepping down as chief executive of the group.

Mr Corcoran was replaced by Peter Jackson in January.

Before becoming CFO of Paddy Power Betfair following the 2016 merger between the two, Mr Gersh held the position of CFO at Betfair.

Prior to this he had been CFO at NDS Group, Flag Telecom and BT Cellnet.

In January the head of Paddy Power Betfair’s Sportsbet business in Australia, Cormac Barry, jumped ship to become the chief executive of Car Trawler. Former Paddy Power chief executive Patrick Kennedy is the chairman of Car Trawler.

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