BUSINESS

Coral close to new chief; Endemol sees changing of guard

TAGs: Endemol, Gala Coral

Coral ShopCoral could be on the verge of announcing a new chief in the near future. Media speculation points to former chief executive of Alliance Boots Andy Hornby taking over the top job after Nick Rust defected to the Lads last year. City AM reports that the 44-year-old may take the role at the struggling firms that is rumoured to be on the verge of a break up over the next two years. We contacted Gala Coral for further comment on the reports only for them to reply that they don’t comment on media speculation. Hornby was in the firing line and was criticized for the time he spent at bank HBOS when it broke up in early 2008.

endemolThe creator of Big Brother, Endemol, is also changing guard at the top with the departure of chairman and CEO Ynon Kreiz. It comes after the group saw its net debt rise rapidly with the figure currently sitting at around €3billion. The company entered the world of online gaming late last year with the launch of Endemol Games to create “next generation crafted and compelling betting games”.

Kreiz added in a statement: “I have worked with an incredibly strong team and our achievements over the past three years leave Endemol well placed to embrace the creative challenges of the future. I thank the shareholders for their trust in me and am confident that the company is strongly positioned for continued success.”

Endemol will see the latest series of Big Brother launched on Channel 5 this autumn but with terms that are a lot less favorable they are likely to still be on a slippery slope down.

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