Ladbrokes appoints acting CFO
Director of investor relations Richard Snow will assume role from February until Gala Coral merger completes
Ladbrokes has appointed its director of investor relations Richard Snow as acting chief financial officer until the firm’s proposed merger with Gala Coral completes.
The acting CFO will take on the role at the end of February, when current CFO Ian Bull departs the post, until the merger completes and Paul Bowtell becomes CFO of the merged company.
Gala Coral’s Bowtell was announced as Ladbrokes Coral’s CFO in July when terms on the merger were agreed.
Snow has been at Ladbrokes for two years and had previously served as director of M&A and director of investor relations at Vodafone.
In a statement, Ladbrokes said Snow will not be a director of the firm and that he would remain in the post until the merger completes following clearance from the UK Competition and Markets Authority (CMA).
It appears unlikely Snow will remain in the post for much more than a few months. Ladbrokes and Gala Coral recently asked the CMA to accelerate its enquiry, and completion appears to be on track for H1 2016.