Senior Management Appointments at Paddy Power plc

RNS Number : 9267D

Paddy Power plc

23 May 2012

 



Senior Management Appointments at Paddy Power plc

The Chairman of Paddy Power plc, Nigel Northridge, today Wednesday 23^rd May, announces new senior management appointments which, given the increasing scale of the Group, enhance its finance, legal and compliance functions. These new appointments will take effect from October 2012.

Cormac McCarthy (49), currently a non-executive director, has been appointed Chief Financial Officer and will become an executive director.

Jack Massey (44), currently Finance Director, has been appointed Director of Finance & Company Secretary. He will resign as an executive director on assuming the role of Company Secretary.

David Johnston (40), currently Company Secretary and General Counsel, will focus exclusively on leading an enlarged legal and compliance function as Group General Counsel.

Paddy Power Chief Executive Patrick Kennedy said: "We have a strong track record of investing for growth and today's appointments represent another step in this direction. They broaden and deepen our capability and capacity in the key areas of finance, legal and compliance and follow our philosophy of hiring, rotating and retaining great talent.

"I very much look forward to Cormac joining the management team, strengthening our capacity to scale the business. Jack has been a central contributor to the success of Paddy Power and will continue to play a key leadership role in the Group. David's expanded role as Group Counsel is driven by our entry into new geographies."

Finance Director Jack Massey said: "I have thoroughly enjoyed over six years as Finance Director of Paddy Power and I am delighted to be moving to a role that will see me specialise more in finance and investor relations, take on new responsibilities as company secretary and have increased capacity for strategic initiatives."

Cormac McCarthy was Chief Executive of Ulster Bank from 2004 to 2011. During this time, he was also a member of the Royal Bank of Scotland Group Management Committee and Deputy Chief Executive of Royal Bank of Scotland UK Retail. Prior to that, he was Chief Financial Officer and then Chief Executive of First Active plc. A Fellow of the Institute of Chartered Accountants in Ireland, Cormac is a graduate of University College Dublin and qualified as a chartered accountant with KPMG. He joined Paddy Power as a non-executive director in 2011.

Jack Massey has been Finance Director of Paddy Power plc since April 2006. In that role, he has successfully developed the finance, audit, legal and investor relations functions of the Group and provided strong support to the development of Paddy Power's business in Ireland, the UK and Australia. Prior to joining Paddy Power, Jack worked with ITG Europe, the European Division of the NYSE quoted company Investment Technology Group, Inc. where he was Chief Operating Officer from 2002 and prior to that Finance Director. Jack is a Fellow of the Institute of Chartered Accountants, a graduate of University College Dublin and qualified with Arthur Andersen.

David Johnston has been Company Secretary of Paddy Power plc since March 2007. He was previously Company Secretary and Chief Legal Counsel at Telefonica O2 Ireland and, prior to that, was in private practice with McCann FitzGerald.  David is a graduate of University College Dublin and qualified as a solicitor in 1998.

For reference:

Patrick Kennedy                                                                            Jack Massey

Chief Executive                                                                             Finance Director

Paddy Power plc                                                                            Paddy Power plc

Tel: + 353 1 905 1011                                                                     Tel: + 353 1 905 1011

Billy Murphy / Anne-Marie Curran                                                  Jon Earl / Rob Greening

Drury                                                                                            Powerscourt Ltd

Tel: + 353 1 260 5000                                                                     Tel: + 44 20 7250 1446

Mobile: [phone] (AC)                                                      Mobile: + 44 7809 698 259 (RG)

ENDS

 

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