Ladbrokes on hunt for Australia CEO as planned successor departs

Ladbrokes Australia chief operating officer Paul Cherry (pictured) has left the firm, EGR Intel has learned, just weeks before he was due to succeed outgoing CEO Dean Shannon.

Cherry’s departure means Ladbrokes currently has nobody lined-up to replace Shannon, who is due to leave the firm on 25 February.

Last year, the operator revealed Cherry would take over the reins from Shannon, who had announced he would be leaving the firm due to “personal reasons”.

With the top two men now out of the picture, Ladbrokes Coral CEO Jim Mullen is expected to fly out Down Under in order to review the firm’s management options, although EGR Intel understands an external hire for the top job is now likely.

“Paul Cherry has had a change of heart, having decided over the Christmas break that he wanted to try new things outside of our sector and therefore couldn’t commit to the CEO role,” a spokesperson for Ladbrokes Coral told EGR Intel this afternoon.

“Dean Shannon remains at the head of the business before his departure at the end of the month and we are working on the new management arrangements in time for then.

“The business continues to be a growing force in the Australian market and a key part of our future plans.”

Cherry had been part of the Bookmaker.com.au team acquired by Ladbrokes in 2013 and worked alongside Shannon in successfully growing the Ladbrokes Australia business.

Cherry has since joined Brisbane based technology company TechnologyOne as a director.