Payne to step down as Sportingbet non exec

Former Sportingbet CEO Nigel Payne is to step down as a non executive director of the business after more than 11 years at the business.

Payne, alongside non executive director Sean O’Connor, will announce his departure from the company he once ran at the operator’s AGM on 16 December. Brian Harris, another non executive director will also announce he is to stand down next year.

Despite only being in his current role for five years Payne told eGR that main market rules state that if a non executive director has served more than nine years at one listed company then he or she must stand down in order for the position to retain its independence.

Payne joined the business on 15 May 2000 as group finance director and was appointed chief executive a year later holding the post until 2006 after having helped float the company on the London Stock Exchange. Current CEO Andy McIver replaced Payne that year with Payne then becoming an independent non exec and gaming consultant. He is also chairman of private jet operator Hanger Eight and online golf equipment exchange Golfbidder.co.uk.

Chris Moss, who has 25 years of marketing experience at companies including Virgin Atlantic, Orange and 118 118, and former investment banker Rory Macnamara, who was previously head of UK coverage at Lehman Brothers, joined the operator in September in order to replace Payne and O’Connor.