Paddy Power names chief executive

BOOKMAKER Paddy Power has appointed Greencore chief financial officer Patrick Kennedy as its next chief executive.

Mr Kennedy, 35, will take up his post later this year and will take over from John O’Reilly, who will retire in December after 17 years with the company.

He had already held a non-executive director’s position with Paddy Power since March last year.

Paddy Power chairman Fintan Drury said Mr Kennedy had been picked for his strategic and financial skills as well as his drive and dynamism.

“He is precisely the person to lead this company,” said Mr Drury. “He is a strategist, his financial capabilities are clear, his people skills are widely appreciated and he has a great feel for the brand.”

Mr Kennedy, who previously worked with KMPG Corporate Finance and international management consultants McKinsey, said he was looking forward to the challenge of running Paddy Power after seven years at Greencore.

He beat off competition from Ireland and Britain, including current Paddy Power finance director Ross Ivers, who had been seen as a likely contender for the top job.

Greencore chief executive David Dilger wished Mr Kennedy well in his new job and said the process of finding his replacement as chief financial officer was already under way.

Mr Kennedy will stay on with Greencore until August.