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NEWS 1 May 2019

Rank Group Chairman announces impending departure

By Tim Poole

Rank Group Chairman Ian Burke will not stand for re-election at the company’s AGM on 17 October, ending his 13-year association with the firm.

Burke joined Rank as CEO in 2006 and became Executive Chairman in 2011, later moving into the role of Non-Executive Chairman in 2014.

Senior Independent Director Chris Bell will initiate a process to appoint Burke’s successor, saying the Chairman made "a very significant contribution" with the operator.

Burke said: "I have decided to step down as Chairman in the knowledge Rank has a strong management team and board to take the business forward through its transformation programme."

In April, Alan Morgan resigned as Rank Group Managing Director Retail. CFO Bill Floydd, meanwhile, will join the board in Burke’s stead.

Elsewhere, Rank has also released its Q1 trading update, reporting flat like-for-like revenue; total revenue rose 1% year-on-year.

Within these tallies, digital revenue grew 2%, while revenue at Mecca venues fell 1%, with no change in revenue for either Grosvenor venues or international venues.

The operator did not disclose exact totals in its financial report.

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