Flutter confirms John Bryant as new chairman
Bryant will take up full chairman duties in September ahead of a proposed US listing.
Ireland.- Dublin-based Flutter Entertainment has confirmed that John Bryant has been named the group’s chair designate following the company’s AGM yesterday. He will take up full chairman duties in September, replacing current chair Gary McGann.
Bryant, who has both US and Australian nationality, is senior independent director at Compass Group and sits on the boards of two US-based companies. He was chairman and CEO of the Kellogg Company from 2011 to 2017. He has also been appointed as a non-executive director and chair of Flutter’s Nomination Committee.
His appointment comes as London-listed Flutter Entertainment looks increasingly to the US. The company is planning to advance with a US listing for FanDuel, which could see the company valued at $45bn through combined trading in the US and on the London Stock Exchange.
FanDuel is the market leader in sports betting. BetMGM remains the market leader in online casino in those few US states that permit the activity, but FanDuel has expressed its intention to expand its market share in this vertical too.
Flutter Entertainment’s other brands include Sky Bet, Paddy Power, PokerStars, Adjarabet and Junglee Games. The company has said that it “anticipates the US-based operation becoming its largest business by revenue and an ever-greater proportion of its overall value”.
McGann said: “We are delighted to announce John’s appointment as Chair. John has had a stellar career at Kellogg Company, one of the most internationally renowned companies in the world.
“He brings with him an enormous wealth of leadership experience in strategic, financial, and operational matters. It has been a privilege to serve as Chair of this very special company and I wish John every success as he joins the Board at this pivotal point in Flutter’s evolution. I will use my remaining period as Chair to ensure a seamless transition to John.”
Bryant said: “I am very excited to succeed Gary as Chair of Flutter. I look forward to working with Peter and the management team to grow the business and to take advantage of the many exciting opportunities that lie ahead.”
CEO Peter Jackson said: “I would like to thank Gary for the contribution he has made to Flutter over his nine years as Non-Executive Director, eight of which were as Chair. He has helped steer the business through an exceptional period of growth.
“I am very much looking forward to working with John. His experience will be invaluable as Flutter continues to execute its growth strategy.”
Meanwhile, the operator has reached an agreement to settle a bribery case brought by the US Securities and Exchange Commission. The case involved allegations of bribery against Pokerstars dating back to before the brand was acquired by Flutter in 2020. Flutter will pay a $4m settlement.
See also: Flutter’s Sisal merges Italian operations into single entity
