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Flutter Entertainment promoted Rob Coldrake (pictured) to group chief financial officer today (31 May) as the operator completed its transition to a primary US listing.

The former Flutter International CFO will assume his new position with immediate effect, the business said.

The FanDuel operator highlighted that its new US primary listing will require extensive executive management time to be spent stateside.

This comes after the board engaged in a discussion with previous office holder Paul Edgecliffe-Johnson about his ability to do so considering his UK family commitments.

The board subsequently concluded it was in the best interests of the company if Edgecliffe-Johnson stepped down as group CFO and executive director.

CEO Peter Jackson said: “I am delighted that Rob will become our next group CFO. 

“During his four years at Flutter, he has shown himself to be a CFO of exceptional calibre and his skills and experience will help us to take advantage of the significant opportunities before us.

“I would like to thank Paul for his contribution to the group, particularly in relation to achieving our US primary listing, and I wish him and his family well.” 

Coldrake previously served as Flutter International CFO, a role he held since joining the company in 2020.

Prior to that he spent 14 years at TUI Travel plc in a variety of financial roles, having begun his career with PricewaterhouseCoopers.

Chair John Bryant added: “The board welcomes the appointment of Rob as group CFO and is especially delighted we were able to develop such a high-quality executive within our own business. 

“We look forward to working with him and the team into the future.  I would also like to take the opportunity to wish Paul well and to thank him for his contribution to the group.”

Flutter moves primary listing to US

As of 3AM ET, Flutter’s primary listing is now on the New York Stock Exchange, although its shares will continue trading on the London Stock Exchange.

The move marks the end of a process that began in February 2023 when Flutter opened a consultation with investors on an additional US listing.

This was for several stated long-term strategic and capital market benefits, including an enhanced US profile, better recruitment and retention, as well as access to deeper capital markets and new domestic US investors.

The company added at the time that an additional US listing would also provide the option of pursuing a primary US listing as an additional step further down the line.

Flutter’s dual listing began on 29 January 2024, with the business stating it would pursue a primary US listing as soon as practicable following positive investor feedback.

Jackson added: “Today marks an important milestone in the evolution of Flutter with the commencement of our primary listing on the New York Stock Exchange.

“This closely follows the recent move of our operational headquarters to New York, with both reflecting the increasing importance of the US sports betting and iGaming market to our business.

We have a fantastic position in the US, with FanDuel the clear number one operator, and we look forward to this next step on our journey.”

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