Paddy Power appoints Chief Executive Designate

RNS Number : 7960Q

Paddy Power plc

04 September 2014

 



Paddy Power Appoints Andy McCue as Chief Executive Designate

The Board of Directors of Paddy Power plc is pleased to announce the appointment of Andy McCue as Chief Executive Designate, and a director of Paddy Power plc, with immediate effect. Andy will succeed the current Chief Executive, Patrick Kennedy, on January 1^st 2015. Patrick announced his intention to step down as Chief Executive at the AGM in May.

Andy McCue has been with Paddy Power for eight years and is currently Managing Director,  Retail UK & Ireland. He also has responsibility for regulatory and public affairs. He has been a member of the Paddy Power Management Committee since 2009 and leads the Group's online and retail multi-channel strategy.

His appointment follows a comprehensive recruitment process, undertaken by the Nominations Committee of the Board led by the Chairman, which involved a strong field of internal and external candidates.

Nigel Northridge, Chairman of Paddy Power plc said: "We are delighted to appoint Andy as the successor to Patrick. He has an outstanding track record and has consistently demonstrated strong leadership across the business as a key member of the Management Committee and in his role driving the regulatory agenda. Andy is the ideal leader to drive  Paddy Power's next phase of growth."

"The Nominations Committee undertook a comprehensive international search for the next leader of the business and we were very pleased, if unsurprised, with the calibre of the candidates from inside and outside the business," commented Nigel.

Patrick Kennedy, Chief Executive said: "This is a great day for Paddy Power. Andy will bring  energy, strong leadership and a detailed knowledge of the business to the role of Chief Executive. I look forward to working closely with him over the coming months. The future of Paddy Power is in excellent hands."

Andy McCue, Chief Executive Designate commented, "I am very excited to be taking on the leadership of Paddy Power.  Patrick has transformed the business over the last 10 years, strongly positioning us in attractive markets which are delivering good payback.  We have a tremendous team and I very much look forward to working with them to build on that success by continuing to engage customers with the best value, product and brand."

ENDS

Notes:

Andy McCue Biography:

Andy McCue joined Paddy Power in 2006 as Head of Strategy, UK Retail.  He devised the strategy that transformed the profitability of the UK Retail business and led its implementation as Deputy Managing Director, UK Retail. 

In 2009, Andy was appointed Managing Director, UK Retail and joined the Paddy Power plc Management Committee. He later also assumed responsibility for regulatory and public affairs. He has overseen the development of the UK retail estate which is now 305 shops strong and generates the highest profitability per shop in the sector.   

In 2013, Andy was appointed Managing Director, Retail UK & Ireland, assuming responsibility for the combined retail estates and the telephone business, which today turnover some €2bn and employ 3,000 people.

As a member of the Management Committee over the past five years, Andy, together with his senior management colleagues, has planned and overseen the on-going development of the Group.

Andy McCue was born in Scotland in 1974. He lives in Dublin and is married to Emer with one son. He graduated from Cambridge University in 1996 with an MA (Hons) in Economics and Management. He also holds a Masters in Finance from London Business School.

Prior to joining Paddy Power, he was a Principal with OC&C Strategy Consultants and a Manager at Andersen.

Regulatory:

All appropriate regulatory steps are being taken in relation to this appointment.

For reference:

Paddy Power plc
Jack Massey, Director of Finance & Company Secretary
Tel: + 353 1 905 1013

Drury / Porter Novelli
Billy Murphy / Karen Ferris
Tel: + 353 1 260 5000
Mobile: + 353 87 231 3085

RLM Finsbury
Conor McClafferty
Tel: [phone]
Mobile: + 44 7951 411 796

 

END

 

 

BOAUORRRSRAKRUR