Stepping Down As Ladbrokes CEO: Glynn Either Made It Or Broke It

Ladbrokes; current CEO, Gavin Richard, is stepping down to give way to a new leader sometime in 2015

Ladbrokes will have a new CEO sometime in the upcoming year as Richard Glynn bows out. Glynn who has led the company for the past four years through tumultuous times seems to be leaving on good terms with the company and said that he ‘was very proud of the resilience and professionalism the team has shown during this intense period of activity'.

However, there are quite a few speculations in UK gambling news as to whether he was asked to leave or it was a decision he made on his own his own. In any case, what is certain, is that when Glynn joined the company Ladbrokes was not in a good place.

Throughout his four year reign as head of Ladbrokes, Glynn had quite a few challenges. His role was to have the company integrate, survive and prosper in the ever-competitive world of gambling. In other words, his job was to make the company prosper and up sales. And prosper it did.

New faces to appear in 2015

The company experienced a 94 % increase in operating profits for the first 9 months of 2014. This amounts to over GBP 33 million.Unfortunately this doesn’t seem to please shareholders enough to justify keeping the current CEO on the reins of Ladbrokes.

Shareholders claim that Glynn has not allowed the company to make more than just a few ripples in breaking into the online gambling market it seems Ladbrokes is just about lagging behind the current market leader, William Hill plc, in online gambling. So come 2015 Ladbrokes is hoping to hire a CEO who can use the UK gambling laws to the company’s advantage to keep ahead in the online sports booking industry .They wil also need to get a new retail director as Nick Rust is leaving to take up the position as chief executive officer of the British Horseracing Authority in 2015.