Paddy Power Betfair Chief Executive Officer Breon Corcoran will step down just 18 months after the merging of the two companies.
The appointment was unanimously approved by Paddy Power Betfair’s independent directors following a “rigorous and extensive” search process that was led by executive recruiter Spencer Stuart the company said. No reason was given for Corcoran’s departure.
Corcaran did say it had been a “very difficult” choice to step down.
“There is never a good time to leave, but this is the right decision for me and my family, and following the successful completion of the merger integration it is an opportune time for the business too,” he said in a press statement.
No date for the switch was given and Corcoran will stay in place until the succession is “confirmed in due course,” the company said.
