Ladbrokes names new chairman in board reshuffle
Non-exec John Kelly replaces long-serving Peter Erskine as chairman amid a raft of changes to the board
Ladbrokes has appointed senior independent non-executive director John Kelly to succeed chairman Peter Erskine as the operator reshuffles the board ahead of its planned merger with Gala Coral.
Erskine had previously announced his intention to leave the company earlier this year and officially stepped down as chairman yesterday after a six-year tenure at the UK bookmaker.
His departure comes just days after Ladbrokes shareholders comprehensively voted in favour of a proposed merger with Gala Coral despite a last ditch attempt by Dermot Desmond to persuade voters to reject the deal.
Kelly originally joined Ladbrokes in 2010 and has now formally taken up the role vacated by Erskine with a search underway for a replacement senior independent director.
Prior to joining Ladbrokes, Kelly was a founder and chief executive of Gala Coral after he led a management buy-in by Bass in 1997 and will also be chair of the proposed Ladbrokes Coral entity – it had previously been announced that Kelly would take up a non-executive chairman role at the combined firm.
“It is a great honour to take on the role of chairman of Ladbrokes at such an exciting time in the Company’s history,” Kelly said. “We have an aggressive organic plan for growth under our new chief executive, Jim Mullen, and are working hard towards the proposed merger with Coral Group.
“While there has been much to do, the board and the executive team are focused on delivering for shareholders and I remain confident in the direction and momentum in the business,” he added.
Kelly’s appointment comes amid further changes to the board including the appointment of Mark Pain as a non-executive director and chairman of the Audit Committee.
Pain is currently chairman and a non-executive of London Square Developments and will retain his new position on the Ladbrokes board once the merger is complete.
Meanwhile, independent non-executive director Sly Bailey has also been appointed chair of the Social Responsibility Committee.