Paddy Power Betfair rejigs top team following McCue exit
CEO Breon Corcoran opts not to appoint new COO and instead promotes three senior members of staff
Paddy Power Betfair (PPB) is in the process of restructuring its commercial management team after chief executive Breon Corcoran said he would not be appointing a direct replacement for the recently departed COO Andy McCue, eGaming Review has learned.
In an email to staff this morning, seen by EGR, Corcoran explained he would instead share the chief operating officer’s responsibilities among three members of his senior team.
The switch-up sees former Paddy Power online MD Johnny Harnett become managing director of commercial international for the recently combined firm.
The role will see Hartnett take on responsibility for the operator’s international businesses, excluding Italy, while in addition Hartnett will lead PPB’s risk and trading, VIP, product and B2B divisions.
Hartnett and Sportsbet CEO Cormac Barry are now the only remaining Paddy Power representatives in top-tier management roles within the combined business.
Aine Flanagan, who pre-merger was commercial MD at Betfair, has been handed the role of managing director commercial for PPB’s entire UK and Ireland-facing businesses. Flanagan will also lead the gaming division with a dotted line into Hartnett.
And while Dan Taylor will remain retail MD, he has been handed the additional responsibility of managing both the Paddy Power and Betfair Italy-facing businesses.
Corcoran described the promoted trio as “well-respected and proven operators” and said the restructure would “ensure continuity and momentum at this busy time”.
A source familiar with the matter suggested the move was designed to share responsibility for the group’s huge and varied revenue streams, with the previous COO role accountable for as much as three quarters of the near-?1bn in annual revenues.
The changes come little over a week after the shock exit of former Paddy Power chief executive McCue, who had taken on the COO role following the completion of the merger in early February.
Late last year it was revealed that McCue had been given a safety net which allowed him to leave the firm with a payout 2.5x his annual salary should he decide within 12 months his duties and responsibilities had been diminished by the merger.
A spokesperson for Paddy Power Betfair declined to comment on this story.