logo-loader
viewFlutter Entertainment PLC

Changing horses: Paddy Power Betfair poaches new CFO from Saga

The FTSE 100-listed bookmaker said Jonathan Hill will replace outgoing CFO Alex Gersh, who announced his intentions to step down in early March

Horse Racing
Saga said Hill would remain at the group until September, adding that the search process for a successor will start immediately

Paddy Power Betfair PLC (LON:PPB) said on Wednesday that it has appointed Jonathan Hill, the current chief financial officer (CFO) of Saga PLC (LON:SAGA), as its new CFO.

The FTSE 100-listed bookmaker said Hill would replace outgoing CFO Alex Gersh, who announced his intentions to step down in early March, in the autumn.

READ: Paddy Power Betfair likely to find the going heavy in 2018

In its own statement, Saga said Hill would remain at the group until September, adding that the search process for a successor will start immediately with the over-50's holidays and insurance specialist to update the market as soon as this has concluded.

Hill was previously group finance director at housebuilder Bovis Homes.PLC (LON:BVS) and has held senior financial roles at travel company TUI AG (LON:TUI) and British gas-owner Centrica PLC (LON:CNA).

Commenting on the appointment, Paddy Power Betfair's chief executive Peter Jackson said: "We're delighted that Jonathan is joining us. He brings substantial strategic and operational finance experience in consumer businesses and I am confident he will make a significant contribution to Paddy Power Betfair's future success."

Hill added: "I am excited to be joining a business with great brands, differentiated products and substantial international scale. There are many opportunities to drive shareholder value and I look forward to being part of the team to deliver this."

Shares in Paddy Power Betfair were down 1.5% at 7,155p in mid-morning trading, while Saga shares lost 1.9% at 111.4p.

Quick facts: Flutter Entertainment PLC

Price: 8882 GBX

LSE:FLTR
Market: LSE
Market Cap: £6.95 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fertoz continues to plan for the future despite extremely...

Fertoz Ltd (ASX: FTZ) Executive Chairman Patrick Avery joined Steve Darling from Proactive Vancouver on Skype to discuss what has been a very tough weather year for the company. Even with that, Avery says the company has been very busy this year signing a number of distribution...

2 days, 19 hours ago

RNS

Holding(s) in Company

4 days, 4 hours ago

Director/PDMR Shareholding

1 week, 4 days ago

Total Voting Rights

2 weeks ago

Holding(s) in Company

2 weeks, 2 days ago

Holding(s) in Company

2 weeks, 3 days ago

Holding(s) in Company

2 weeks, 6 days ago

Director/PDMR Shareholding

2 weeks, 6 days ago

Holding(s) in Company

3 weeks, 4 days ago

2 min read