Paddy Power Betfair Andy McCue leaves company2016-03-24 10:22:00
At the end of April, chief operations officer Andy McCue will leave the newly merged company PaddyPower Betfair. Andy McCue held the position since January 2015. Prior to the merger and since joining Paddy Power in 2006, McCue has contributed greatly to Paddy Power's success, most notably by leading the retail business of Paddy Power in the United Kingdom into profitability.
McCue said that he enjoyed working at Paddy Power, and he believes the merger will have positive effects on the company. Conversely, the announcement of Andy McCue leaving reflected negatively on the stock market, with shares plummeting by three percent.
“I feel now is the right time to pursue new opportunities and, in doing so, wish everyone in Paddy Power Betfair the very best for the future,” said McCue, in a statement.
Some sources suggest that Breon Corcoran’s appointment as the chief executive officer of Paddy Power Betfare led to McCue’s decision. “His contribution to Paddy Power in a variety of roles, but particularly as chief executive, was immense,” commented Mr Corcoran.