The Rank Group Plc (LSE: RNK) has announced that Chief Executive Officer John O'Reilly will retire, effective January 29, 2026, after leading the company for nearly eight years.
He will remain available to support the business through the end of the fiscal year 2025/26.
Richard Harris, the current Chief Financial Officer (CFO), has been appointed as interim CEO, effective January 30, 2026. Harris joined Rank in May 2022 and has been an Executive Director since then. The Board of Directors cited Harris's extensive knowledge of the business and experience in consumer-facing businesses as key factors in ensuring a smooth transition.
A formal search process will commence to identify a permanent CEO. The company has not provided a timeline for the completion of the search.
John H. Ott, Chair of Rank Group plc, expressed gratitude for O'Reilly's leadership, noting his “extensive gambling industry knowledge and experience” as crucial to Rank's current position. Ott also conveyed confidence in Harris's ability to provide continuity and strategic leadership.
O'Reilly stated that it has been a “privilege to lead Rank” and expressed his belief in the Group's “bright future” under Harris's leadership.
The transition in leadership presents both opportunities and challenges for Rank Group. Continuity is a key element, with Harris's existing role providing a degree of stability.
The immediate focus will be on maintaining operational momentum and delivering shareholder value during the interim period. Harris's prior experience in driving financial performance and contributing to strategy development will be crucial in this regard.
Richard Harris joined the Rank Board in May 2022 when he was appointed Chief Financial Officer. He has extensive experience in consumer facing businesses, driving financial performance, contributing to strategy development and improved operational execution. Prior to Rank, Richard was Chief Financial Officer at Foxtons Group Plc and has previously held positions at Laird Plc and Marks and Spencer Plc.
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