Steve Esom to step down as director at Rank Group

Esom will end his six-year tenure as a corporate advisor to the casino and bingo operator.
Esom will end his six-year tenure as a corporate advisor to the casino and bingo operator.

Lucinda Charles-Jones will replace Esom as chair of Rank Group’s remuneration committee.

UK.- Rank Group Plc has advised investors that Steve Esom will end his tenure as a non-executive director at the end of the year. The former Waitrose managing director will leave his role as a corporate advisor and chair of Rank’s remuneration committee.

Lucinda Charles-Jones will replace Esom as chair of the remuneration committee and will also become non-Executive director for workforce engagement from January 1. Formerly corporate responsibility officer at the insurance provider AXA Plc, she became a corporate advisor to Rank this year and is described as an expert in corporate affairs and stakeholder management.

Rank chairman Alex Thursby said: “On behalf of Rank I would like to thank Steven for his valuable contribution as a director on the board and as chair of the remuneration committee for the past six years.

“Steven’s wealth of experience in consumer-focused industries, coupled with his long-standing strategic and shareholder experience, has had a strong influence on the board and helped lay the foundations for Rank’s future growth. His experience has also been crucial in broadening the scope of our remuneration policies. Steven will leave the Rank board with our best wishes.

“I am delighted to have Lucinda step up as chair of the remuneration committee and as the designated non-executive director for workforce engagement and the board looks forward to working with Lucinda in her new role.”

In August, Rank Group reduced its EBIT guidance for full-year 2021-22 despite a 220.5 per cent increase in revenue in the third quarter. It cut its EBIT guidance from £55m –£65m to £47m – £55m.

It reported that net gaming revenue for the three months ending March 31 reached £156.4m, up from £48.7m in 2021 thanks to the normal operation of land-based casinos and bingo halls after the lifting of Covid-19 restrictions in the UK. Grosvenor Casinos generated £69.1m, up from £100,000 in the same three months in 2021.

Mecca bingo revenue bounced back from £300,000 to $34.1m, and Enricha venues in Spain generated £8m, an increase of 263.6 per cent year-on-year.

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