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Rank Group names Harris as new chief financial officer

| By Robert Fletcher
The Rank Group has announced the appointment of Richard Harris as its new group chief financial officer, with effect from 1 May.

Harris will replace Simon Hay, director of group finance at Rank, who also took on the role of interim CFO on 1 January. Hay will continue in the position until Harris joins in May.

Former CFO Bill Floydd revealed in August last year that he was to step down from the role in order to take up the same position with Watches of Switzerland Group.

Harris will join Rank from estate agency Foxtons Group, where he has served as CFO since June 2019. Prior to this, Harris was group financial controller for Laird plc, having previously spent 11 years at Marks and Spencer in a number of senior finance roles. 

“I am delighted to be joining Rank at this exciting time in the group’s journey,” Harris said. “I have enjoyed meeting various members of the team and look forward to working closely with them, John and the board to deliver the group’s strategy.”

Rank chief executive John O’Reilly added: “Richard’s extensive experience across a number of senior financial and operational roles will be invaluable as we continue to deliver the next phase of Rank’s transformation plan. 

“I look forward to welcoming Richard into the group in 2022.”

The appointment comes after Rank in October last year forecast a 69% year-on-year rise in group revenue for the first quarter of its 2021-22 financial year, with growth expected across all areas of the business.

In a trading update, Rank said total like-for-like revenue for the three months through to 30 September is set to reach £163.1m (€194.9m/$220.3m), in line with its expectations for the period.

In November, it was also revealed that Her Majesty’s Revenue and Customs (HMRC) is to repay Rank £77.5m after value-added tax (VAT) was wrongly applied to certain gaming machine revenue between 2006 and 2013.

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