Ladbrokes chairman set for exit

r Erskine is to step down as chairman of operator Ladbrokes.

Erskine has served as chairman since 2009 and the announcement of his departure follows the exit of former CEO Richard Glynn, who left the role in April.

John Kelly, a senior non executive director, who is also the former chairman of fellow operator Gala Coral, is leading the search to find Erskine’s successor, which has now begun.

Erskine said in a press release: “In recent months I, and the board, have overseen the transition from Richard Glynn to a new CEO, Jim Mullen. I feel that now, with stronger foundations in place and with our new CEO looking to build on the changes made, it is the right time for there to be a change in chairman to one who will be able to see out the entirety of the next stage of the journey.

“It has been a real honour to be the chairman of Ladbrokes for these past six years. The search for my successor will begin now and I will step down when my successor is in place. Until that time, my focus will be on helping Jim formulate and then implement his plans for the business.”

Ladbrokes reported a 22% decrease in EBIT year-on-year for the first quarter of 2015 and a 44% drop in pre-tax profit for 2014.