Breon Corcoran, chief executive officer of Paddy Power Betfair, is stepping down after 16 years with the bookmaker. Worldpay chief executive Peter Jackson will replace Corcoran. Corcoran, a veteran of the gambling sector, was a key component behind the £7-billion merger between Paddy Power and Betfair, as well as moving the business to a digital platform.
“This was a very difficult decision to make, and there is never a good time to leave, but this is the right decision for me and my family, and following the successful completion of the merger integration, it is an opportune time for the business too,” Corcoran said.
Jackson, a non-executive director of Paddy Power Betfair since 2016, has also previously served with Lloyds Banking Group and BHOS from 2002-2010, Travelex Group from 2010 to 2015 and at Banco Santander in 2016.
The company will report half-year results Tuesday, with revenue growth of 9% and underlying earnings up 21%.
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