Paddys appoints first online FD
Shane Doherty joins from eircom to oversee the finances of operator's online business
Paddy Power has appointed Shane Doherty to the newly-created role of head of finance within its online division.
Doherty joins the Irish bookmaker from telecommunications firm eircom, where was he was acting chief financial officer. He previously held the role of group financial controller, commercial director for retail and financial controller for eircom’s online business.
Cormac McCarthy, who replaced Jack Massey as CFO last year, will continue in his role, overseeing the operator’s finances across all divisions.
Online accounted for three quarters of Paddys’ revenues in 2012, with interactive profits excluding its Australian business rose 2% year-on-year to 72.7m in its most recent full-year results release.
However Paddys noted at the time that its four new online ventures, including mobile casino brand Roller and social betting venture BetDash, incurred 20.5m in start-up costs between them over the course of 2012.