Paddy Power Betfair CFO to depart

Paddy Power Betfair has confirmed that Alex Gersh is to step down from his role as chief financial officer at the company.

Gersh has been in the position for six years but this week informed Paddy Power Betfair of his intention to exit.

Paddy Power Betfair has now appointed an executive search firm to assist with the process of identifying a successor, with Gersh to remain in the role until his replacement is found.

Meanwhile, Paddy Power Betfair has also announced that Pádraig Ó Ríordáin has retired as a non-executive director and will step down from both its nomination and risk committees.

Ó Ríordáin joined the Paddy Power board as a non-executive director and chairman of the Remuneration Committee in August 2008 and maintained his position on the board following the merger with Betfair in February 2016.

Gary McGann, chairman of Paddy Power Betfair, said: “I would like to thank Pádraig for his valuable contribution to our board over his tenure.

“In particular, I wish to express our thanks for his excellent chairmanship of the Remuneration Committee during this time.”

Michael Cawley will now join the company’s the Nomination Committee effective immediately.

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