The appointment comes amid a change in leadership at the top of the Paddy Power Betfair group, with Peter Jackson officially assuming the CEO role and replacing Breon Corcoran earlier this week. Mr Jackson tweeted on Monday that he was "excited to wake up in Dublin for my new job". The company has market cap of 7.21 billion GBP.
This was the first time since the merger when the leading global financial services firm has taken a negative decision in terms of the group. Both men will report to Mr Jackson.
On Wednesday the company announced the appointment of Dan Taylor as chief executive of Europe, which is a newly created role, as well as Barni Evans as chief of Sportsbet, the firm's operations in Australia.
Barclays restated their overweight rating on shares of Paddy Power (LON:PAP) in a research note published on Monday, December 18th, StockTargetPrices.com reports. The firm operates through Online, Australia, Retail, and U.S. divisions.
Mr Evans succeeds Cormac Barry, who has led Sportsbet since it was acquired by Paddy Power in 2009.
Evans most recently served as Sportsbet's Chief Commercial Officer, having joined the business as Chief Marketing Officer in 2011.
In analysts report issued to clients on Thursday morning, Berenberg Bank has chose to cut their rating on shares of Paddy Power Betfair (LON:PPB) to a Sell and has set one year target price equal to GBX 7600.00.
He'll now be responsible for the group's brands across all channels outside Australia. Paddy Power Betfair plc (LON:PPB) has 0.00% since January 11, 2017 and is.
Mr Taylor was most recently the managing director of the company's United Kingdom and Ireland operations, and prior to that was managing director of Paddy Power's retail business.
Davy Stockbrokers said that Mr Barry's departure from Paddy Power Betfair is "unquestionably a loss to the group", but added that he would be leaving Sportsbet in "safe hands".