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Gala Coral Hands CFO A Ladder

Gala Coral Hands CFO A Ladder

Written by: Nikola Zugic on 29/09/2011 15:35
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Gary Hughes, Chief Financial Officer has been asked to step down, way down and will be replaced by Paul Bowtell on October 3 announced the Gala Coral Group in a statement.

“I would like to thank Gary for his significant contribution over a very challenging period for Gala Coral,” said Carl Leaver, Chief Executive Officer for Gala Coral.

“He played a central role in successfully restructuring the group last year and, more recently, refinancing its debt. Gala Coral is a stronger business for his involvement and Gary leaves with the board’s best wishes.

“I am very pleased that Paul Bowtell will be joining the group on October 3 as part of an orderly succession plan. Paul has extensive experience of retail and leisure businesses and brings an insight that I am confident will help Gala Coral achieve its potential.”

Bowtell has impressive credentials as Chief Financial Officer for TUI Travel and Finance Director of for British Gas.

“I am delighted to be joining Gala Coral at this exciting time in the company’s development,” said Bowtell.

“With its strong financial position, there are substantial opportunities to drive shareholder value and I look forward to being part of the team to deliver this.”

The Gala Coral Group is one of Europe’s leading gaming operations in the UK with Gala Bingo, Gala Casinos and retail bookmaking, employing over 16,000 employees.

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