GVC confirms departure of Paul Bowtell as Group CFO

GVC confirms departure of Paul Bowtell as Group CFO

Further to publishing its Q3 2018 trading update, the governance of FTSE100 GVC Holdings has today confirmed the upcoming departure of Paul Bowtell as Group Chief Financial Officer (CFO).  

Updating the market, GVC confirms that Bowtell will depart the company’s executive leadership team on 5 March 2019, further disclosing that Bowtell will join London private equity firm Alchemy Partners.

Paul Bowtell commented: “I have thoroughly enjoyed my time with GVC and I am pleased that I can hand over my CFO responsibilities to someone with Rob’s experience of the sector and understanding of the group’s business.  This will be critical for GVC in driving growth in its key markets and extracting the synergies from the GVC acquisition of Ladbrokes Coral.”

Preparing for Bowtell’s departure, GVC governance confirms the immediate appointment of Rob Wood to the position of Deputy CFO.

Wood is the former financial lead of Ladbrokes Coral UK retail unit, the largest operating division of GVC Holdings organisation.

In its update, GVC governance credits Wood as a key stakeholder in the firm’s post-merger Ladbrokes Coral integration, helping deliver circa £80 million in group co-synergy cost savings.

Updating investors, Lee Feldman, GVC’s Chairman, commented: “Having undertaken a rigorous selection process, we are delighted to appoint Rob as our Chief Financial Officer Designate. Rob will be a great addition to the Board and his appointment demonstrates the strong bench of talent within GVC.  On behalf of the Board, I would like to thank Paul for his invaluable contribution over the years to Gala Coral, Ladbrokes Coral and GVC.  We wish him well with his new role.”

Source: SBC News