Rank Group has confirmed the appointment of its new Chief Executive Officer, with interim CEO Richard Harris taking on the role permanently, effective immediately.
Since 30 January, following the retirement of former CEO John O’Reilly, Harris had stepped away from his duties as Chief Financial Officer at the land-based casino operator and into the interim CEO position.
Both internal and external candidates were considered for the position before Harris was selected, with the search process overseen by the group’s Nominations Committee, chaired by John Ott, and supported by MWM Consulting, an independent executive search firm.
Rank did not announce who would replace Harris as the operator’s CFO.
Ott stated: “I am delighted to confirm Richard’s appointment as CEO of The Rank Group. Following a thorough recruitment process which identified a strong field of candidates, the Board unanimously agreed that Richard was the outstanding choice.
“I am pleased that he has agreed to lead Rank as it continues to progress the delivery of the medium-term objective of generating at least £100m operating profit and the development of the longer-term strategy.”
Harris is ‘well placed to lead Rank’
Rank highlighted Harris’ management of the business over the last six months, stating he has ‘proven that he is well placed to lead Rank as it embarks on an exciting next stage in its development’.
Harris joined Rank back in May 2022 as CFO, but before that, he held senior leadership roles in several consumer-facing businesses, including Marks & Spencer, Foxtons and Laird.
On his appointment, Harris said: “Rank is an industry-leading business with a strong portfolio of brands which are synonymous with the UK gaming industry.
“I am proud of what Rank has achieved during my tenure as CFO, and I look forward to building on this momentum as we continue to drive growth and evolve the Group’s strategy. I’d like to thank all my colleagues for their commitment and support over the last four years and look forward to an exciting future as CEO of the Rank Group.”
Future
Rank is set to publish its preliminary announcement of final results for 2025/2026 on 13 August.
The operator now looks to manage the effects of remote gaming duty increases in the UK, as well as the now confirmed Financial Risk Assessments (FRAs), although the latter have seen the Gambling Commission come under scrutiny by the government and industry stakeholders alike.
In his final statement as Rank CEO back in January, O’Reilly said: “Customers recognise the investment and improvements we have been making and are responding enthusiastically. Both the underlying metrics and medium-term outlook for the business remain encouraging, and we have the building blocks in place to capitalise on the opportunities ahead of us.”
“The second half of the year will bring further cost headwinds, principally in our UK digital business, which will be impacted by the UK Government’s huge increase in tax rates. We have already executed measures to mitigate some of this impact, whilst continuing to prioritise customer experience, and the Group will respond with agility as a heavily disrupted landscape takes shape in the UK.”