Flutter appoints Rob Coldrake as new group CFO

Flutter, the world's largest online betting company, has appointed Rob Coldrake as its new group chief financial officer (CFO). This comes as the current group Finance head, Paul Edgecliffe-Johnson, prepares to step down from his roles as Group CFO and executive director.

Earlier this month, the Irish-founded company relocated its operational headquarters to New York, emphasising the significance of the U.S. market. Alongside this move, Flutter completed the transition of its primary listing to the New York Stock Exchange.

The board had been in discussions with Mr Edgecliffe-Johnson regarding his ability to fulfil the extensive executive management requirements in the United States, given his family commitments in the UK. Consequently, it was determined that stepping down was the best course of action.

Rob Coldrake, who has been serving as the CFO of Flutter International since joining the company in 2020, will now assume the role of Group CFO.

In early trading, shares of Flutter, listed on the London Stock Exchange, fell by more than eight per cent. The stock has also faced pressure recently following the Illinois Senate's passage of a budget proposal that would double the tax rate for the largest online sports betting operators in the state.