Paddy Power stakes odds on Worldpay CEO

Paddy Power Betfair have hired the boss of Worldpay as their new CEO. The news comes as current Chief Executive Breon Corcoran announced he will be stepping down – The Telegraph reports. Peter Jackson will soon join the bookmakers, having held his position in Worldpay since March of this year.

Gary McGann, Chairman of the group, said: "Breon has been talking with me and the board about his long-term plans and accordingly, some months ago, we intensified our focus on executive succession planning to ensure an orderly transition.

“While we will be sorry to see Breon leave, we are delighted to have appointed a candidate of Peter's calibre to succeed him.”

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McGann went on to say that Corcoran was leaving behind a business that “continues to perform strongly, and that has the scale, technology platform, combination of brands and exceptional people to outperform its competitors.”