Paddy Power Betfair CEO steps down
Gary McGann, chairman of the group, said, "Breon has been talking with me and the board about his long-term plans and accordingly, some months ago, we intensified our focus on executive succession planning to ensure an orderly transition.
“While we will be sorry to see Breon leave, we are delighted to have appointed a candidate of Peter's calibre to succeed him.”
Corcoran had worked with Paddy Power until 2011 when he resigned as chief financial officer to become chief executive at Betfair.
Paddy Power chairman Gary McGann said the group had started hunting a successor “some months ago” after Mr Corcoran had approached himslef and the board about his long-term plans.
The news sent Paddy Power Betfair shares down more than 5% in early trade to £74.50.
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