F lutter Entertainment plc began planning for the successor to Gary McGann, Executive Chairman of FTSE100.
Sky News reports that Flutter Governance has begun interviewing potential candidates to identify a successor for Gary McGann, who was chairman of Flutter since 2015.
Sources suggest that McGann will leave Flutter in 2023. Flutter has hired Russell Reynolds Associates for its executive search.
A former Group CEO at Irish packaging conglomerate Smurfitkappa was McGann. He was elected Paddy Power Chairman ahead of Betfair Plc’s transformational merger in 2015.
Under McGann’s leadership, Paddy Power Betfair merged with The Stars Group Inc. (TSG) in 2019. Flutter Entertainment was established as the most important online gambling plc, operating brands such as Sky Bet, Betfair and PokerStars.
2022 Flutter declared that all changes in leadership related to the merger with TSG had been completed.
In Q1 2022, FTSE will be welcoming Paul Edgecliffe Johnson as the new Group CFO. He replaces Jonathan Hill who was appointed Global COO.
City analysts are closely monitoring developments to determine who will succeed McGann, Chairman of Flutter. The gambling company is valued at PS20bn. It ranks among the 30 most FTSE-listed firms.
Flutter announced its intention to be the US’s first profitable operator in 2023. The company’s leadership is still reviewing strategic options, such as a possible spin-off or separate IPO.