Newly merged Paddy Power Betfair has verified that Chief Operational Officer (COO) Andy McCue has decided to step down from his leadership role on the FTSE one hundred listed operator.
The announcement of McCue’s departure will surprise many industry commentators, who had expected that McCue would seemingly succeed Breon Corcoran as CEO of Paddy power Betfair in the near future.
McCue who had been with Paddy Power in 2006, had been appointed CEO of Paddy Power Plc in January 2015, taking up company management from Chief Executive Patrick Kennedy.
After his appointment the Irish operator stunned the betting industry announcing its +£6 billion merger with rival Betfair.
In its new entity Paddy Power Betfair, McCue would function COO to group CEO Breon Corcoran under the Chairmanship of Gary McGann (former CEO of Smurfit Kappa neighborhood)
“Andy has played a pivotal and vastly beneficial position in the successful merger, for which I am very grateful. As chief government of Paddy Power, he led the business strongly, embedding a brand new growth approach which delivered checklist revenues and earnings,” commented Breon Corcoran, CEO Paddy Power Betfair,
Paddy Power Betfair designated that McCue would officially depart his position on 30 April, as yet the company has now not announced a replacement for McCue.