Flutter CEO Peter Jackson to Step Down Amid Profit Warnings
Flutter Entertainment announces CEO Peter Jackson's departure in October, succeeded by Dan Taylor, as the company revises down sales and profit forecasts.
Peter Jackson, the chief executive of Paddy Power-owner Flutter Entertainment, will step down in October after eight years at the helm. He will be replaced by Dan Taylor, currently the head of Flutter's international business.
Jackson's departure coincides with a revised financial outlook, as Flutter announced it expects to fall short of its annual profit targets. The company now anticipates making £156 million less profit than previously projected, lowering its target to £1.97 billion. Flutter also cited increased gambling taxes in the UK, imposed by the Labour party, as a contributing factor to a 19% decrease in its international profits during the three months ending in June.
During Jackson's tenure, which began in 2018, Flutter completed its primary listing move from London to New York last year. The company has since exited the London market entirely this week.