Rank CEO John O'Reilly to retire at end of January

(Sharecast News) - Rank Group on Tuesday said chief executive John O'Reilly had decided to retire after more than seven years in the job and would be replaced on an interim basis by chief financial officer Richard Harris.

The Mecca bingo and Grosvenor casino owner added that a formal search process to identify a permanent CEO would now begin. O'Reilly will step down on January 29 but would stay on to help the company until the end of the 2025/26 fiscal year.

"As interim CEO, the board are confident Richard Harris will provide both important continuity and the strategic leadership required to drive the performance of the business and maximise shareholder returns. The board and I look forward to continuing to work closely with him to realise those ambitions," said Rank chair John H. Ott.

Reporting by Frank Prenesti for Sharecast.com