Ladbrokes announce the appointment of Arriva Trains CEO David Martin, as a non-executive director, as they prepare for life without John Jarvis who retires at the end of the month.
If you keep on top of your online gambling news you will no doubt be aware that all is not well at Ladbrokes Towers.
The High Street bookmakers with a penchant for Helen Flanagan in riding gear (just watch the video if this article gets too boring) have already announced that profits from the digital side of the business are going to be lower than expected this year, prompting our very own Mike O’Donnell to poke, prod and ask why?
Leisure Analyst James Wheatcroft, of Jefferies International, has told prospective investors to ‘hold’ instead of ‘buy’ Ladbrokes stock after stating: ‘Failed acquisitions, sub-scale acquisitions and execution disruption have materially undermined Ladbroke’s competitive position online,” before continuing, “Others have fared better in the growing online market and we worry that Ladbrokes may have missed the boat.”
The weakened financial forecasts have prompted speculation over the future of CEO Richard Glynn, but the first changes that are being made at board level do not affect the man with more pressure on his shoulders than the pants of the men standing behind Flanagan in that video clip you have just paused.
Ladbrokes have appointed Arriva CEO, David Martin, as a non-executive director, to replace John Jarvis who will be retiring from the board next year. Arriva are one of Europe’s largest passenger transport providers, and were purchased by the freight logistic giant Deutsche Bahn in 2010.
Martin joined Arriva in 1998 with specific responsibility for the group’s internal operations and developments and has been their CEO since 2006. His appointment comes into effect on Oct 31st
Ladbrokes chairman Peter Erskine said: “I am delighted to welcome David to the board. His extensive management experience, notably of international operations, is particularly relevant at this stage of the group’s development and will complement the existing skills of the board.
“I would also like to extend my thanks to John for his significant contribution to the deliberations of the board over many years and we wish him well in his future retirement.”