888 CEO Levy steps down
Levy will remain on the board of the group, committing up to half his time over the next six months to help find his replacement. In the meantime, Brian Mattingly, the deputy chairman and non-executive director, will "work closely with management on all aspects of the business,” 888 said.
“Following very strong trading in the first quarter of 2011, which has continued into the second quarter, Gigi has decided to step down, leaving the company well positioned for the future,” the company said in the statement.
888 Holdings, which supplies services to Caesars Entertainment, has been in talks with Ladbrokes since December on a possible takeover. A previous round of talks between the companies ended in 2007.
Brian Mattingley, deputy chairman and non-executive director at 888, will “work closely with management on all aspects of the business” pending the appointment of a new CEO, according to the statement.
888 said that Levy's move is not related to the Ladbrokes talks, which are "continuing.”
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