Ladbrokes Australia announces new CEO

Ladbrokes has announced a change in CEO for its Australia operations, with Dean Shannon being replaced by Paul Cherry.

Shannon was said by Ladbrokes to be leaving for personal reasons, but will remain as an advisor after serving in the position of Ladbrokes Australia CEO since September 2013.

Cherry is an internal appointment, as he will be stepping up from the role of COO, a position he took over in the same month that Shannon assumed the role of CEO.

Aside from his time with Ladbrokes, Shannon still runs affiliate site Bookmaker.com, where he is the Founder and Cherry worked as COO from January 2012 until moving to Ladbrokes.

Ladbrokes Australia’s gross win improved by 57% year-on-year to AUD98.3m (£55.9m) for the first half of 2016 and improved net revenue of AUD69.9m, up by 42% and representing 6% of group net revenue.

Shannon said: “I have enjoyed my time in the bookmaking sector and am very proud of what we have built and achieved in the Australian market. The business has an experienced management team that is passionate about sports betting and focused on results and I firmly believe that the Ladbrokes story has much further to run. Paul is a talented executive and the natural choice and I am pleased that he will be given the chance to maintain Ladbrokes’ Australia’s momentum."