The wagering firm Ladbrokes Australia recently announced Chief Executive Officer Dean Shannon will leave the company in February 2017, for personal reasons, but will serve as a corporate advisor. He will be replaced by current Chief Operating Officer Paul Cherry.
Shannon founded Bookmaker.com.au which he sold to Ladbrokes in September 2013.
With more than 15 years of experience in digital business operations, Cherry joined Ladbrokes Australia when it was founded in 2013. He has been responsible for Ladbroke’s technology innovation and product development growth. In addition, Cherry managed the quick integration of Betstar to Ladbrokes and the development of many industry firsts such as the Ladbrokes Card and Cash In payment products.
Ladbrokes Chief Executive Officer Jim Mullen said, “We always knew the day would come when Dean would want to step down. He has been instrumental to the success of Ladbrokes in Australia. He has established a challenger brand and won customers through innovation. His success can be seen in the customer metrics and in the fact we are now the number three recognized brand from a standing start just three years ago.” commenting on the appointment.
Mullen added, “Paul Cherry has been core to Ladbrokes success and has been a key part of the management team since we acquired the business. We are proud of what has been achieved in Australia and are confident in the ability of the team to take the business forward to the next stage of growth and strategic development.”
Shannon commented, “I have enjoyed my time in the bookmaking sector and am very proud of what we have built and achieved in the Australian market. The business has an experienced management team that is passionate about sports betting and focused on results and I firmly believe that the Ladbrokes story has much further to run. Paul is a talented executive and the natural choice and I am pleased that he will be given the chance to maintain Ladbrokes’ Australia’s momentum.”
