Rank Group’s John O’Reilly will step down as CEO on 29 January, the omnichannel operator has announced.
Following discussions with the board, Rank said O’Reilly would retire as the company’s boss.
He will continue to support Rank until the end of the 2025-26 financial year, the FTSE 250 business confirmed.
O’Reilly will be replaced by CFO Richard Harris as interim CEO, effective from 30 January.
Rank, which owns the Mecca and Grosvenor brands, said a “formal search process” for a permanent CEO has now begun.
O’Reilly has served as Rank CEO since May 2018. A former Ladbrokes exec, O’Reilly also spent time as a non-executive director at William Hill.
Harris joined Rank in May 2022 when he was appointed as CFO and took a board seat at the Maidenhead-headquartered firm.
Prior to joining Rank, Harris served as CFO for real estate agency Foxtons, as well as working an 11-year stint at retail giant Marks and Spencer.
Rank said Harris’ appointment would allow for an “orderly transition of responsibilities”.
“Richard’s extensive knowledge of the business is coupled with broad experience in consumer-facing businesses, and he has made a significant contribution to the group’s progress in recent years,” the company added.
Rank’s shares are up around 1.5% this morning (6 January) to 98p.
On his retirement O’Reilly said: “It has been a privilege to lead Rank for the past seven-and-a-half years, and I am proud of all that we have accomplished in that time.
“I am pleased that Richard will now take Rank to the next stage of what I am sure is a bright future and wish the group every success.”
John Ott, who became chair of Rank in November, added: “On behalf of the board and everyone at Rank, I would like to express my sincere thanks to John O’Reilly for his leadership of and passion for Rank since his appointment as CEO in April 2018.
“His extensive gambling industry knowledge and experience, as well as deep operational skills have combined to ensure that Rank is well positioned to build on the direction he established.
“In addition, John has contributed significantly to the betting and gaming industry for decades. We wish him all the very best.”
Last month, Rank announced it was facing a €7m payment fraud hit in Spain, with the operator now working with law enforcement to support investigations.
The leadership change comes as Rank prepares to deal with the forthcoming hikes in remote gaming duty in the UK.
The operator has estimated the increase in tax from 21% to 40% in April 2026 will lead to a £40m reduction in operating profit before mitigation.
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John O’Reilly to step down from his post at the end of January and will be replaced in the interim by CFO Richard Harris
The post Rank Group CEO to retire after almost eight years in the top job first appeared on EGR Intel.