Thursday June 25,2015 : LADBROKES KICK STARTS RESTRUCTURE (Update)
Central International team under scrutiny
Ladbrokes, currently in merger talks with Gala Coral Group, has announced an extensive restructure of its centrally-based International business team.
Jim Mullen, Ladbrokes chief executive officer said the restructure of the team has been undertaken following a review of costs and efficiency.
International managing director Damian Cope will leave Ladbrokes and another nine unidentified roles are at risk of redundancy.
Existing local management teams will continue with business as usual, however, reporting lines will now follow:
Dean Shannon, managing director, Australia reporting directly to Jim Mullen;
Alexis Murphy, managing director, Belgium reporting directly to Lee Drabwell, managing director of UK Retail.
Ladbrokes’ joint venture in Spain will be represented by Mark Fowler, Sportium’s Retail Director who will report to Adam Greenblatt, Corporate Development and Strategy Director.
Digital support, where required, will be provided by the Digital team under Andrew Bagguley's leadership.
The Ladbrokes business in the Republic of Ireland, which is currently subject to an Examinership process, will remain on hold until the process completes.
Commenting on the changes Mullen said: "Our international businesses each have strong management teams and do not require extensive support from a centrally based International team.
“This move will reduce costs and bring the International businesses closer to our Exco team.
“The resulting savings will enable us to support the increased investment in our digital business which is essential to the future of the Group."