Ladbrokes’ Richard Glynn Entrepreneurial Energy Impressive

Richard Glynn, is the new CEO of U.K. betting giant Ladbrokes and the company has given him a tidy sum to do his job with. After nine years leading the expansion of spread betting firm Sporting Index Mr. Glynn has proven he has what it takes to turn a company around and build a solid foundation for sustainable expansion. Ladbrokes has put almost £12 million on the table as bonus should Glynn double the company share price share price to 297p. The company said £1.3 billion of value will have been created for shareholders if the “extremely stretching” targets are met over a five-year period. Glynn’s “entrepreneurial energy” was sited by the board of Ladbrokes as being impressive. Glynn succeeds Chris Bell who was with Ladbrokes for nine years and is due to take over the operation in late April of 2010. Chairman of Ladbrokes, Mr. Peter Erskine when asked about the appointment of Mr. Glynn and his prior success with the transformation of Sporting Index said Mr. Glynn was, “ideally suited to lead the reinvigoration of Ladbrokes”. Chief objectives for the new director are laid out in an extensive game plan following new rules and regulations and the change over from horseracing to an expansion of online betting opportunities for Ladbrokes. The forty five year old executive will receive a base salary of £580,000, plus £130,000 in lieu of a pension contribution. The compensation package also includes a number of shares valued at approximately £1.75 million. “It is a great business with significant opportunities in a rapidly changing marketplace.” Mr. Glynn commented sincerely. Ladbrokes doesn’t gamble with it’s future it plays the game safe knowing that with experience and creativity it will profit every time. Choosing Richard Glynn as their director the shareholder can now rest assured the old company is in experienced hands.