Ladbrokes CFO to step down in February

rokes CFO Ian Bull will stand down from the company in February 2016 following its merger with rival Gala Coral.

Coral CFO Paul Bowtell is set to become finance director of the new firm, Ladbrokes Coral, when the merger between the two operators is complete.

Bull, who joined the business from brewer and pub operator Greene King in 2011, has agreed to stay on until Ladbrokes publishes its full-year results in 2015.

Ladbrokes chairman Peter Erskine said: “Ian has worked tirelessly through what have been challenging times and has helped steer Ladbrokes to this exciting point in its journey.

“We are pursuing an aggressive organic plan to build a stronger Ladbrokes as well as working on the proposed merger with the Coral Group, which will create a leading betting and gaming business and deliver substantial synergies.

“In accepting his request [to step down] we are pleased that Ian has reiterated his commitment to delivering our organic strategy and in leading the current refinancing of the group in preparation for the proposed merger.”