Vol. 8 • No. 2 • January 18, 2010 - Print This Issue
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Vol. 8 • No. 2 • January 18, 2010, PEOPLE
U.K.’s Ladbrokes Seeks New CEO
Christopher Bell (l.), the man at the helm of U.K. gaming giant Ladbrokes for almost a decade will step down by the summer of 2010. The company will need someone with a feel for both online and traditional gaming, as well as the ability to navigate the U.K. environment.
U.K. gaming concern Ladbrokes is looking for a new CEO to replace Christopher Bell, who recently announced he will leave the company by the summer.
Bell has been with Ladbrokes for 20 years, the last nine of which he held the position of CEO.
According to the Wall Street Journal, Ladbrokes shares are down 5.4 percent in the past year while those of William Hill, a comparable mixed-sector company, are up 18 percent.
Bell has been under pressure for the past year as the company struggled with the online market in particular. James Hollins, an analyst at Daniel Stewart, said that the main issue with Bell was the lack of growth internationally in the online sector.
Bell said that he made the decision to leave the company last year, that after 20 years it was time.
"It's the most fabulous job anybody could have, but it is a huge job and I'm very pleased to be passing the baton on to somebody else because it's time for a change, and-to be quite frank-time for a little rest too," Bell told the Journal.
