Global gambling group Flutter Entertainment revealed in a regulatory release today certain changes to the Board of Directors and Committees effective the Annual General Meeting (AGM) on April 28, 2022.
‘Exceptional Contribution to the Board’
London Stock Exchange (LSE)-listed Flutter Entertainment announced that long-time serving director Michael Cawley would not be running for re-election at the upcoming AGM and therefore would be stepping down from the Board of Directors following the conclusion of the meeting. Cawley has been serving as an independent non-executive director at the gambling group since 2013.
“I wish to take this opportunity to thank Michael and Zillah for their exceptional contribution to the Board over the past nine years.”
Gary McGann, Chair, Flutter Entertainment
Unlike Cawley, Zillah Byng-Thorne, another non-executive director at the company, will seek re-election at the AGM and will step down from the Board of Directors before the 2023 AGM. By that time, Byng-Thorne would have been served at the Board for 9 years.
“We wish Michael well for the future and I look forward to continuing to work with Zillah during her remaining term as a Director.”
Gary McGann, Chair, Flutter Entertainment
Changes will be introduced to the two of the committees at the Board level with effect from the conclusion of the shareholder meeting in April as Holly Keller Koeppel is set to replace Cawley as Chair of the Audit Committee, while Dave Lazzarato will replace as Chair of the Risk and Sustainability Committee Byng-Thorne, who will remain as a member of the committee.
Expanding Global Footprint
The upcoming changes to the board are the latest Flutter Entertainment is implementing to respond to the changing business and regulatory environment and expanding business requirements.
Last month, the global gambling group announced the completion of the acquisition of the online bingo platform Tombola announced in November. Flutter also switched Paddy Power commercial director Ben Reilly to a new role as managing director of the newly acquired business. Reilly, who had started his career at the brand as an online graduate and quickly climbed up the corporate ladder, was trusted with responsibilities to lead the new business ahead.
Currently, Flutter is in the process of acquiring another business, Italian gaming brand Sisal, following the agreement reached with its owner, CVC Capital Partners Fund VI. The all-cash deal that will expand Flutter’s footprint in Italy is set to complete in the second quarter of 2022.