Ladbrokes focuses on digital with new CEO appointment

Ladbrokes focuses on digital with new CEO appointment

Friday, March 20, 2015 Totally Gaming

Ladbrokes has chosen a digital specialist and former William Hill employee to spearhead its hopes of revival after appointing Jim Mullen as its new chief executive.

The announcement today (Friday) comes three months after the news emerged that Richard Glynn would be departing after four tumultuous years as chief executive.

The firm, Britain's second-biggest bookmaker, has struggled to keep pace with market leader William Hill and take advantage of the online sector, with investment in marketing and products lagging others.

Mullen, who ran Hills’ online unit before joining Ladbrokes in November 2013, has overhauled its digital arm, delivering new products and systems to strengthen its position.

Ladbrokes chairman Peter Erskine added: “We wanted a combination of industry experience with strong digital skills, a proven record of operational delivery and the leadership ability to capitalise on the opportunities for growth that are now ahead of us.

“Since Jim's arrival in the business, less than 18 months ago, he has helped transform our digital operations. The board is confident that Jim can use the leadership qualities he has displayed in the digital team to take forward the wider Ladbrokes' business.

“Ladbrokes has gone through extensive change and Jim's task will be to build on the strong foundations laid and make us compete even more effectively, deliver a robust growing business and build scale.”

Ladbrokes’ results for 2014, released last month, show that the firm’s concentrated focus on improving digital gaming channels, has begun to pay dividends as improved online sports betting and gaming channel performance saw Ladbrokes record a 71-per-cent profit growth of £14m ($20m/€19.3m).

However, Mullen’s appointment did little to rally Ladbrokes’ share price, although the new chief, who starts work on April 1, confirmed that plans to pay a dividend remain in place.

Mullen said: “I am delighted to become chief executive of Ladbrokes. The business has undergone rapid change and we have laid good foundations from which to grow but there remains much to do.

“We have a strong brand, competitive products and excellent people throughout the business.

“I am looking forward to working with my colleagues to make the most of the opportunities ahead to grow the Ladbrokes business.”


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