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NEWS 2 May 2019

Andy Hornby departs GVC but operator confident of strong replacement

By Tim Poole

Gambling Insider understands Ladbrokes has no concerns over Andy Hornby's successor and will make an announcement in due course, with a deep bench of candidates available.

Hornby has left his role as co-COO at Ladbrokes-owner GVC Holdings to become CEO of The Restaurant Group.

The Restaurant Group owns brands such as Garfunkel's, Coast to Coast, Chiquito, Wagamamas and Frankie & Benny’s, with Hornby joining the firm to replace Andy McCue, who stepped down in February for personal reasons.

GVC CEO Kenny Alexander said in a statement: "Over the last eight years Andy has been instrumental in the turnaround and growth of the Ladbrokes Coral businesses.

"The business has genuinely been transformed under Andy and I have really enjoyed working with him."

Elsewhere, Gambling Insider understands reports of large salaries for Alexander and departing Chairman Lee Feldman relate to options issued by GVC three years ago.

GVC published financial details including salaries and options in its recent annual report, leading to widespread coverage.

However, these options related mostly to the acquisition of BwinParty in February 2016 and have been public knowledge ever since.

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