Paddy Power announce new chief executives in Europe and Australia
New Paddy Power Betfair chief executive Peter Jackson has moved swiftly to make his mark at the company with the appointment of two new divisional heads who will report directly to him.
One of the changes was forced upon Jackson, with Cormac Barry standing down as chief executive of the company's Australian arm Sportsbet to take the same role at travel technology company CarTrawler, whose chairman is former Paddy Power chief executive Patrick Kennedy.
He will be replaced by Barni Evans, Sportsbet's chief commercial officer, who joined the business as chief marketing officer in 2011 and has been with the group since 2001.
Jackson, who took over from Breon Corcoran on Monday, has also created the new role of chief executive of the company's European operations, which will be filled by Dan Taylor.
Taylor, who will be responsible for all Paddy Power and Betfair brands outside the US, was previously managing director of the group's UK and Ireland operations.
Analysts at stockbroker Davy described the departure of Barry, who has been Sportsbet chief executive since the business was acquired in 2009, and has been with the group since 2001, as "disappointing" given his role in making the business one of the biggest in the Australian gambling market.
They added: "However, he leaves the business in very safe hands – Barni Evans has been with the group since 2001 and has been a key member of the Sportsbet team since 2011."
Analysts at Goodbody echoed that view and regarded the appointment of Taylor favourably.
They said: "On the change in Europe, we see this as a streamlining of the existing reporting lines and Dan Taylor appears to be a strong choice in this regard."
Shares in Paddy Power Betfair fell on the back of the news and at Wednesday lunchtime were down 3.18 per cent at £85.20.
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