John Kelly has been appointed chairman of the board of U.K. bookmaker Ladbrokes, succeeding Peter Erskine, who stepped down December 3. Kelly, the former chairman and CEO of Gala Coral, will head the merged organization.
“It is a great honor to take on the role of chairman of Ladbrokes at such an exciting time in the company’s history,” Kelly said in a statement. “We have an aggressive organic plan for growth under our new Chief Executive Jim Mullen, and are working hard towards the proposed merger with Coral Group. While there has been much to do, the board and the executive team are focused on delivering for shareholders and I remain confident in the direction and momentum in the business.”
He applauded Erskine for “steering the business through a much-needed modernization and helping the business face up to some very significant challenges.”
Erskine has been criticized by Ladbrokes shareholder and Irish billionaire Dermot Desmond, who has slammed the merger plan and promises to fight it, though it was approved by more than 95 percent of shareholders in a recent vote.
Ladbrokes has also appointed Mark Pain as a non-executive director and chairman of the audit committee, a role he will retain in the proposed merged entity of Ladbrokes Coral Plc., reported SBC News. Pain is chairman of London Square Developments Ltd., senior independent director of Johnston Press Plc., and a non-executive director at Yorkshire Building Society and Aviva Insurance Ltd.
In addition to his role as chairman, Kelly will also head the new company’s nomination committee and join the remuneration committee, SBC reported. According to a statement from Ladbrokes, the merged firm is also searching for additional non-executive directors to join the board ahead of the merger with the Coral Group. Christine Hodgson will serve as interim senior independent director.
