Ladbrokes Australia appoints CEO

(PRESS RELEASE) -- Ladbrokes Australia have announced that current Chief Operating Officer, Paul Cherry will become Chief Executive when Dean Shannon steps down from his current post in February 2017.

Dean Shannon, who founded Bookmaker.com.au and then sold it to Ladbrokes in September 2013 is leaving in order to take some time away from business for personal reasons. Dean will continue to contribute to Ladbrokes Australia as an adviser to support its growth and ensure a smooth transition to Paul.

Paul has been Chief Operating Officer of the business since its inception and has been responsible for the technology innovation and product development growth within the business. Paul managed the swift migration of the Betstar business to Ladbrokes and the development of many industry firsts such as the Ladbrokes Card and Cash In payment products. Paul has over 15 years' operations, product and marketing experience in various digital businesses.

Commenting on the appointment, Ladbrokes CEO, Jim Mullen said:
"We always knew the day would come when Dean would want to step down. He has been instrumental to the success of Ladbrokes in Australia. He has established a challenger brand and won customers through innovation. His success can be seen in the customer metrics and in the fact we are now the number three recognized brand from a standing start just three years ago.

"Paul Cherry has been core to Ladbrokes success and has been a key part of the management team since we acquired the business. We are proud of what has been achieved in Australia and are confident in the ability of the team to take the business forward to the next stage of growth and strategic development."

Dean Shannon said:
"I have enjoyed my time in the bookmaking sector and am very proud of what we have built and achieved in the Australian market. The business has an experienced management team that is passionate about sports betting and focused on results and I firmly believe that the Ladbrokes story has much further to run. Paul is a talented executive and the natural choice and I am pleased that he will be given the chance to maintain Ladbrokes' Australia's momentum."