Ladbrokes begin the task of recruiting for a new boss
Ladbrokes is to begin the search for a new chief executive after announcing that its embattled boss is to step down after five years in the role.
The bookmaker, which operates more than 2,200 betting shops in the UK, said Richard Glynn will go as part of an "orderly transition" next year.
Mr Glynn took the helm in April 2000 when he was tasked with a five-year recovery programme that included overhauling Ladbrokes' online and gaming machine operations, which have lagged behind its rivals.
But pressure on the chief executive intensified in August when the company's half-year profits fell by almost half to £27.7m, impacted by unfavourable sporting results and its race to roll out new services in time for the World Cup.