ard Glynn is to step down from his position as CEO of bookmaker Ladbrokes in 2015.

Glynn has been with the UK company since April 2010 and is expected to leave in April next year after five years at the helm.

This is the latest high profile change due to be made by Ladbrokes, after it was announced in November that retail director Nick Rust would be leaving to become chief executive of the British Horseracing Authority, also in April.

Ladbrokes suffered a 49.7% decrease in overall profit for the first half of 2014 as Glynn has struggled to implement his plans to improve the company’s digital performance.

Glynn, who will assist with any transition period, said: "I look forward to the company, the shareholders, our partners and in particular everyone in the team reaping the benefits, over the next few years, of all that has been sown.”

Ladbrokes said in a statement it would look at both internal and external candidates to replace him.