BoyleSports founder John Boyle to stand down as CEO
Boyle says he intends to “step back from the frontline” later this year and likely assume a chairman position
BoyleSports founder John Boyle says he will step down as chief executive later this year in order to focus on M&A opportunities, with a UK acquisition in the operator’s sights.
Speaking to Irish newspaper, the Sunday Independent, Boyle said he had enjoyed his five years at the helm but was ready to pass on the baton to a successor, likely to be promoted from within, possibly a family member, while he would assume a chairman role.
“I’ve been CEO now since 2012, and that’s not my gig,” Boyle said.
“My gig was retail and going out and finding stores. But I’ve gone in and I’ve enjoyed it for five years.
“I’m ready this year to step back from the front-line of being CEO,” he added.
Boyle also revealed the firm was closing in on a UK retail acquisition and predicted BoyleSports would be operating in the market before the end of the year.
“How close are we?” he said in reference to a UK acquisition. “In the last month we have been doing due diligence with a company, and we’re very close.
“I would say in 2017 we will be operating in the retail market in the UK.
“Now, it’ll be at a smaller level because the bigger level of taking over 300-400 stores at this time isn’t available to us. I would hope within the next 12 months that we would set our sights at having at least 100 shops in the UK,” he added.
Last year, BoyleSports was unsuccessful in its bid to acquire around 360 shops form the merged Ladbrokes Coral, with Betfred winning the race to buy the bulk of the stores.