Paddy Power Names New Execs

May 23, 2012
Paddy Power Names New Execs
Paddy Power Chairman, Nigel Northridge named new members of senior management today. The members will officially come aboard as of October 2012 as a result of growth within the company. Their focus will be on the financial, legal and compliance areas, said Northridge. Non-executive director, Cormac McCarthy (49) will take the role of chief financial officer and will become an executive director. McCarthy comes with a resume willed with finance industry experience including his position as chief executive of Ulster Bank while simultaneously acting as a member of the Royal Bank of Scotland Group Management Committee and deputy chief executive of Royal Bank of Scotland UK Retail. He was previously the chief financial officer and then chief executive of First Active plc. He is a Fellow of the Institute of Chartered Accountants in Ireland and a graduate from University College Dublin, going on to qualify as a chartered accountant with KPMG. Jack Massey (44), holds the position of finance director of Paddy Power since 2006 and will fill the roles of director of finance and company secretary. He will step down from his position as executive director in October when he becomes company secretary. Before working with Paddy Power, Massey worked with ITG Europe - the European Division of Investment Technology Group as chief operating officer and finance director before that. He qualified with Arthur Andersen and is a Fellow of the Institute of Chartered Accountants. David Johnston (40) has filled the role of Company Secretary and General Counsel since 2007 and will focus his attention on leading an enlarged legal and compliance function as Group General Counsel. Paddy Power chief executive Patrick Kennedy stated: "We have a strong track record of investing for growth and today's appointments represent another step in this direction. They broaden and deepen our capability and capacity in the key areas of finance, legal and compliance and follow our philosophy of hiring, rotating and retaining great talent.
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