Economy

Paddy Power Betfair appoints Dan Taylor as Europe CEO

Paddy Power Betfair appoints Dan Taylor as Europe CEO”

Goldman Sachs Group restated a "buy" rating on shares of Paddy Power Betfair in a report on Monday, September 11th.

The former Worldpay UK boss assumed the role from Breon Corcoran, who stepped down from the board on Sunday. The company has a market cap of $7,100.00 and a PE ratio of 5,353.50.

That was the first time it has taken a negative stance since the merger.

Mr Evans's predecessor, Cormac Barry, has quit to join Dublin-based travel technology group CarTrawler as chief executive officer. Both of the newly-appointed executives are to report directly to Mr. Jackson.

Paddy Power Betfair (LON:PPB)'s stock had its "overweight" rating reissued by analysts at Barclays in a research note issued on Monday, December 18th.

Barni Evans has been named chief executive of Sportsbet, the group's Australian operation.

Mr Kennedy said that Mr Barry had an "outstanding record".

For the time being, Mr. Evans has more than fifteen years of experience in the company, being responsible for some of the most successful marketing campaigns which the group has carried out over the last decade and a half. Deutsche Bank reiterated a "buy" rating and set a £105 ($142.39) price target on shares of Paddy Power Betfair in a research report on Thursday, August 31st.

Mr Evans is now Sportsbet's Chief Commercial Officer, having joined the business as chief marketing officer in 2011.

Ending his tenure as PPB leader, Corcoran would highlight Sportsbet Australia, as the group's "shining star" for its worldwide ambitions, becoming the biggest online wagering operator within the Australian market.

As mentioned above, Dan Taylor is to take over the brands and operations of Paddy Power Betfair in Europe, after being appointed at a brand new position.

While conceding that Paddy Power Betfair has strong technology and a robust balance sheet, Morgan Stanley warned that expectations for a significant acceleration in online revenue growth after completion of a project to put customer interfaces onto a single platform may not materialise.

Prior to moving into the position, Taylor was managing director of the Group's United Kingdom and Ireland operations and also had a spell as managing director of Paddy Power Retail.



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