The Board of Paddy Power has appointed of Andy McCue as chief executive designate, and a director of Paddy Power plc, with immediate effect.
McCue will succeed the current chief executive, Patrick Kennedy, on January 1st 2015. Kennedy announced his intention to step down as chief executive at the AGM in May.
McCue has been with Paddy Power for eight years and is currently managing director, Retail UK & Ireland. He also has responsibility for regulatory and public affairs. He has been a member of the Paddy Power Management Committee since 2009 and leads the Group’s online and retail multi-channel strategy.
His appointment follows a comprehensive recruitment process, undertaken by the Nominations Committee of the Board led by the chairman, which involved a strong field of internal and external candidates.
Nigel Northridge, chairman of Paddy Power plc said: “We are delighted to appoint Andy as the successor to Patrick. He has an outstanding track record and has consistently demonstrated strong leadership across the business as a key member of the Management Committee and in his role driving the regulatory agenda. Andy is the ideal leader to drive Paddy Power’s next phase of growth.
“The Nominations Committee undertook a comprehensive international search for the next leader of the business and we were very pleased, if unsurprised, with the calibre of the candidates from inside and outside the business.”
Patrick Kennedy, chief executive said: “This is a great day for Paddy Power. Andy will bring energy, strong leadership and a detailed knowledge of the business to the role of chief executive. I look forward to working closely with him over the coming months. The future of Paddy Power is in excellent hands.”
Andy McCue commented, “I am very excited to be taking on the leadership of Paddy Power. Patrick has transformed the business over the last 10 years, strongly positioning us in attractive markets which are delivering good payback. We have a tremendous team and I very much look forward to working with them to build on that success by continuing to engage customers with the best value, product and brand.”