Paddy Power Betfair appoints new CFO

Paddy Power Betfair has appointed Jonathan Hill as its new chief financial officer.

Mr Hill, currently chief financial officer at insurance and tourism group Saga, will take up the role this autumn, a statement from the betting group said Wednesday.

The appointment comes following the announcement from current chief financial officer Alex Gersh who said he would step down upon the appointment of a successor. He will stay in his role until Mr Hill joins the group.

Mr Hill joined Saga in his current role in April 2015 having previously served as group finance director at UK housebuilder Bovis Homes.

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Prior to that he held senior finance roles at TUI Travel and Centrica. Mr Hill qualified as a chartered accountant with Price Waterhouse, now PwC.

“We’re delighted that Jonathan is joining us. He brings substantial strategic and operational finance experience in consumer businesses and I am confident he will make a significant contribution to Paddy Power Betfair’s future success,” said chief executive Peter Jackson.

Commenting on his own appointment, Mr Hill said he was “excited to be joining a business with great brands, differentiated products and substantial international scale”.

“There are many opportunities to drive shareholder value and I look forward to being part of the team to deliver this,” he added.