Paddy Power Betfair CEO to step down; says H1 EBITDA up 21%
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Betting group Paddy Power Betfair said interim revenue growth would be up 9% and underlying EBITDA up 21% when it reports on Tuesday, as it revealed the departure of chief executive Breon Corcoran as CEO after 16 years in the job.
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It will also confirm that trading is in line with expectations and provide guidance for full year 2017 underlying EBITDA, including the impact of the acquisition of DRAFT, of between £445m and £465m.
Corcoran will be replaced by WorldPay chief executive Peter Jackson, who leaves his job after only four months in the job.