Paddy Power Betfair COO to step down next month

Paddy Power Betfair has announced that Andy McCue is to step down as its chief operations officer at the end of April.

McCue served as chief executive of Paddy Power prior to this year’s merger of the two companies, before taking on his new role within the combined entity, which is estimated to be worth more than €10 billion ($11.2 billion).

Before joining Paddy Power in 2006, McCue enjoyed a spell as a principal with OC&C Strategy Consultants and as a manager at Anderson.

“I leave Paddy Power Betfair following the completion of the merger and in the knowledge that this combination will be greater than the sum of its parts,” McCue said, according to The Irish Times newspaper.

“I have thoroughly enjoyed leading and working closely with a great team of people who have created a dynamic and successful business.

“I feel now is the right time to pursue new opportunities and, in doing so, wish everyone in Paddy Power Betfair the very best for the future.”

Breon Corcoran, chief executive of Paddy Power Betfair, added: “As chief executive of Paddy Power, he [McCue] led the business strongly, embedding a new growth strategy which delivered record revenues and profits.

“His contribution to Paddy Power in a variety of roles, but particularly as chief executive, was immense.”

Related article: Paddy Power Betfair reveals widespread growth in 2015