Patrick Kennedy to step down as Paddy Power CEO
Irish operator reveals chief exec's intention to leave next April after 10-year tenure
Paddy Power has announced its chief executive Patrick Kennedy is to leave next year after more than a decade at the company.
Kennedy joined the Dublin-based firm in an executive role in September 2005 from food company Greencore Group before taking up the role of CEO in January 2006.
“It is as fun and as interesting a job as anyone could hope to have, and I have had the privilege of working with some enormously talented and supportive people over the years that I’ve been here,” Kennedy said.
“I have always had a personal view that after 10 years at the helm, change is good, both for the business and the individual,” he added.
Paddy Power chairman Nigel Northridge will lead the process of finding a new CEO and praised Kennedy for his work during his 10-year tenure.
“We will be sorry to see Patrick go next year, but are extremely grateful for his service over the years [and he] has overseen a period of exceptional development and growth in Paddy Power,” he said.
The company said that it is to consider both internal and external candidates for the role after Kennedy gave notice of intention to leave in “excess” of his contractual obligation.
“In doing so, Patrick has given us more than adequate time to run a thorough process and ensure a smooth transition,” Northridge said.