Ladbrokes Chief Financial Officer Ian Bull has been told he can leave the company in February 2016, or before, if the proposed merger with Coral goes through sooner.
The planned merger of Ladbrokes and Coral has chewed up and spat out its first casualty after Ladbrokes announced that Ian Bull, Chief Financial Officer (CFO), would leave the company in Feb 2016.
Bull’s planned departure date is set to coincide with the announcement of Ladbrokes 2015 full year results. A press release received by Ladbrokes stated that should the Coral merger go ahead before that date then Bull would leave immediately after.
Bull has been the Ladbrokes CFO since 2011. The UK bookmaker picked him up from Greene King plc. where he enjoyed an eight-year spell as Group Finance Director. His resume also contains experience picked up at BT, Buena Vista Home Entertainment and St. Modwen Properties.
The announcement is not a surprise. Back in July, when details of the merger emerged, it was announced that Coral’s CFO, Paul Bowtell, would become the Finance Director of the new combined company.
Speaking of Bull’s contribution to Ladbrokes success, Chairman, Peter Erskine, commented: “Ian has worked tirelessly through what have been challenging times and has helped steer Ladbrokes to this exciting point in its journey. We are pursuing an aggressive organic plan to build a stronger Ladbrokes as well as working on the proposed merger with the Coral Group, which will create a leading betting and gaming business and deliver substantial synergies.”
Ladbrokes Earn Free Wembley Advertising
Ladbrokes were recently the recipients of some free advertising courtesy of some shoddy groundsman work by the Wembley Stadium crew.
The UK bookmaker were the official sponsors of the Rugby League Challenge Cup Final, and as part of the agreement, their logos were emblazoned on the hallowed Wembley turf.
What wasn’t part of the agreement was some free advertising during the European Championship Group game between England and Switzerland a few weeks later. The Ladbrokes logo could still be seen in both halves of the pitch, much to the chagrin of the actual sponsors William Hill, who had to settle for placement on the advertising hoardings that surrounded the pitch.
We can’t quite put our finger on why, but the Wembley pitch looks particularly good tonight #ENGvSWI
— Ladbrokes (@Ladbrokes) September 8, 2015