Paul Cherry set to become new Ladbrokes Australia CEO
It seems to be all change at Ladbrokes right now, as amidst the growth in business that is taking place, there is something of a corporate shake up occurring. In the latest move, Ladbrokes has announced that Dean Shannon will be leaving his role of Chief Executive Officer of Ladbrokes Australia, with Paul Cherry stepping up to take his place.
Transitional Period
Should all matters rollout as planned; Cherry will take over the role in February 2017. In the official announcement Ladbrokes stated that while Shannon is stepping down from his position as CEO of Ladbrokes Australia, he will remain with the company as a corporate advisor. For Cherry, this will represent a promotion from his current role of Chief Operating Officer, a position that he has held since 2013. In preparation for the switch, Shannon and Cherry will be working together during a transitional period. Speaking on his departure, 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”.
Taking The Business Forward
A change in CEO certainly represents a rather large corporate change, with Jim Mullen (Ladbrokes PLC CEO) quick to comment on the switch, “We always knew the day would come when Dean would want to step down. He has been instrumental to the success of Ladbrokes in Australia. He has established a challenger brand and won customers through innovation; his success can be seen in the customer metrics and in the fact we are now the No.3 recognised brand from a standing start just three years ago.” He also spoke on the promotion of Cherry, “Paul Cherry has been core to Ladbrokes success and has been a key part of the management team since we acquired the business; we are proud of what has been achieved in Australia and are confident in the ability of the team to take the business forward to the next stage of growth and strategic development.”