Wednesday 23. March, 2016

Paddy Power Betfair Announces Resignation of COO

The chief operator officer of Paddy Power Betfair, Andy McCue, will step down from his position at the end of the April according to an announcement by the recently merged gambling giant.

McCue held the position of chief executive of Paddy Power before the two companies merged and he took on the role of COO of the joint company. He joined Paddy Power in 2006, being appointed CEO in January 2015 when he took over from long-time CEO Patrick Kennedy. Before Paddy Power, he worked as a principal with OC&C Strategy Consultants and was a manager at Anderson.

“As chief executive of Paddy Power, he [McCue] led the business strongly, embedding a new growth strategy, which delivered record revenues and profits,” commented Breon Corcoran, former CEO of Betfair and chief executive of Paddy Power Betfair.

“His contribution to Paddy Power in a variety of roles, but particularly as chief executive was immense.”

Paddy Power and Betfair merged to create an entity which is estimated to be worth more than $11.2 billion and has the potential to be a leader in the online gambling market worldwide.

“I leave Paddy Power Betfair following the completion of the merger and in the knowledge that this combination will be greater than the sum of its parts,” announced McCue.

“I have thoroughly enjoyed leading and working closely with a great team of people who have created a dynamic and successful business. I feel now is the right time to pursue other opportunities and, in doing so, wish everyone in Paddy Power Betfair the very best for the future.”

McCue will leave the company on April 30, 2016 and the company has announced that while it has not yet found a replacement, it has begun its search for a candidate.

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