As Dean Shannon steps away for the helm, the division’s long serving COO Paul Cherry moves to replace his as chief executive
[dropcap]L[/dropcap]adbrokes Australia has announced that its chief operating officer Paul Cherry will replace company stalwart Dean Shannon (pictured) as the division’s chief executive.
Shannon, who founded the Bookmaker website in Australia, which was then sold to Ladbrokes in 2013, will step down due to unknown personal circumstances and continue to work in an advisory role.
“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, noted Ladbrokes CEO Jim Mullen.
“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 No.3 recognised brand from a standing start just three years ago.
“Paul Cherry has been core to Ladbrokes success and has been a key part of the management team since we acquired the business; 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 himself added: “I have enjoyed my time in the bookmaking sector and am very proud of what we have built and achieved in the Australian market,” Shannon said.
“The business has an experienced management team that is passionate about sports betting and focused on results,” the incumbent went on, adding that he firmly believes “the Ladbrokes story has much further to run.”
“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.”
Cherry who has been with Ladbrokes Australia since the antipodean branch was established, has introduced various innovative products in his role as COO. Among them two industry firsts: Ladbrokes Card and Ladbrokes Cash In. Also during his tenure, he oversaw the successful integration of the Betstar brand into Ladbrokes’ operations.