Casino and bingo hall operator Rank Group (RNK) announced chief executive John O’Reilly will step down at the end of this month and will be replaced by chief finance officer Richard Harris.
Harris has been a board member since joining in May 2022 and is well versed in the business so it should be a smooth transition.
| Price: 97.8p | P/E: 10.1x |
| Market Cap: £444m | Yield: 2.7% |
Given Rank’s recent problems with an undiscovered fraud at its Spanish business it was inevitable someone’s head would roll in the New Year.
The fact change has happened so quickly is reassuring, although we would point out the company’s problems occurred on both men’s watch.
Read the press release here: https://www.rank.com/investors/
Read related news: https://sharesify.com/rank-group-hit-by-european-fraud/
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