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4-Traders Homepage  >  Equities  >  Irish Stock Exchange  >  Paddy Power Betfair PLC    PAP   IE00BWT6H894

PADDY POWER BETFAIR PLC (PAP)
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Paddy Power Betfair CEO sees successor in place in six to 12 months

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08/08/2017 | 09:53am CET

Paddy Power Betfair's (>> Paddy Power Betfair PLC) new chief executive Peter Jackson will take up the role within the next six to 12 months, the gambling firm's outgoing CEO said on Tuesday.

Paddy Power Betfair's (>> Paddy Power Betfair PLC) new chief executive Peter Jackson will take up the role within the next six to 12 months, the gambling firm's outgoing CEO said on Tuesday.

Breon Corcoran announced his plans to step down on Monday, 18 months after completing the merger of Irish bookmaker Paddy Power with Britain's Betfair. News of his planned departure sent the company's share price sharply lower.

Paddy Power Betfair said Jackson's start date would be confirmed in due course. Jackson is CEO of the UK arm of global payments business WorldPay Group (>> Worldpay Group), which is currently negotiating its own possible sale to U.S. peer Vantiv (>> Vantiv Inc).

"They recognise we both have 12 months notice periods and they're in the middle of the deal. Peter's coming here, we all hope it will be sooner but equally it will be within six to 12 months," Corcoran told Reuters in a telephone interview.

(Reporting by Padraic Halpin; Editing by Susan Fenton)

Stocks treated in this article : Paddy Power Betfair PLC, Vantiv Inc, Worldpay Group
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Financials (€)
Sales 2017 1 919 M
EBIT 2017 398 M
Net income 2017 261 M
Finance 2017 217 M
Yield 2017 2,24%
P/E ratio 2017 33,21
P/E ratio 2018 23,11
EV / Sales 2017 4,10x
EV / Sales 2018 3,62x
Capitalization 8 094 M
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Mean consensus BUY
Number of Analysts 1
Average target price 101 €
Spread / Average Target 4,6%
EPS Revisions
Managers
NameTitle
Breon Corcoran Chief Executive Officer & Executive Director
Gary W. McGann Non-Executive Chairman
Alexander Gersh Chief Financial Officer & Executive Director
Ian Dyson Senior Independent Non-Executive Director
Zillah Ellen Byng-Thorne Independent Non-Executive Director
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