Peter Jackson has resigned as chief executive of Paddy Power owner Flutter after eight years leading the gambling giant.
Jackson will step down in October and be replaced by Dan Taylor, who currently serves as head of the company's international business. Jackson has led the Betfair owner since 2018, marking the end of a long tenure at the helm.
During his leadership, Jackson oversaw the transfer of Flutter's primary stock listing from London to New York last year. The firm left the London market altogether this week.
Jackson said: "I leave Flutter immensely proud of what we have built together."
Profit forecasts slashed
His departure was accompanied by a gloomy financial update in which Flutter announced it will not meet its annual profit targets. The gambling giant slashed both its sales and profit forecasts, expecting to make £156 million less profit than previously forecast.
The reduction lowers Flutter's annual profit target to £1.97 billion. The firm also warned that gambling tax increases introduced by Labour contributed to a 19 per cent slide in its international profits over the three months to June.
