GVC confirms departure of CFO

The current officer of the company will depart the team on March 5, 2019.

UK.- GVC Holdings confirmed on Thursday that the current Group Chief Financial Officer (CFO) Paul Bowtell will departure the company on March 5, 2019, as he will join London private firm Alchemy Partners.

The announcement was made along with the third quarter trading update, which shows that net gaming revenue was up 14%, supported by an online increase of 28%.

Paul Bowtell said: “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.”

The company also revealed that Rob Wood will become Deputy CEO after Bowtell’s departure. Wood is the former financial lead of Ladbrokes Coral UK retail unit, and he was credited as a key stakeholder in the firm’s post-merger integration.

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.”