Paul Cherry of Ladbrokes Australia to Move up to CEO Position

A new CEO has been announced for Ladbrokes Australia, set to become official early next year, and the recent appointment comes from within the company. Former chief operating officer, Paul Cherry, will be moving up in the ranks, taking Dean Shannon's spot, who has made the decision to step down for personal matters. After selling Bookmaker.com.au to Ladbrokes in 2013, Shannon has fulfilled the role of spearheading the company since. While he will be leaving the company early next year, Shannon will not be removed from association altogether. In fact, he will serve as an advisor, in order to assist Cherry in his transition. Cherry will assume his new role with impressive credentials, with over 15 years of experience, having been COO for Bookmaker.com.au prior to Ladbrokes Australia. Technology innovation and product development are two areas in which he has contributed to greatly during his time, thus far. Furthermore, he contributed to the development of Ladbrokes card and cash in-payment products. Jim Mullen, Ladbrokes chief executive, stated “We always knew the day would come when Dean would want to step down. He has been instrumental to the success of Ladbrokes in Australia. He has established a challenger brand and won customers through innovation. His success can be seen in the customer metrics and in the fact we are now the number three recognised brand from a standing start just three years ago.” Mullen continued, “We are proud of what has been achieved in Australia and are confident in the ability of the team to take the business forward to the next stage of growth and strategic development.” Shannon also commented, “I have enjoyed my time in the bookmaking sector and am very proud of what we have built and achieved in the Australian market. The business has an experienced management team that is passionate about sports betting and focused on results and I firmly believe that the Ladbrokes story has much further to run." He added, “Paul is a talented executive and the natural choice and I am pleased that he will be given the chance to maintain Ladbrokes' Australia's momentum." Source: Menmuir, Ted. “Ladbrokes promotes Paul Cherry to Australia Chief Executive” sbcnews.co.uk. September 13, 2016.