Flutter hires new CFO as part of operational efficiency drive
InterContinental Hotels CFO Paul Edgecliffe-Johnson to join operator in H1 2023 as Jonathan Hill transitions to new group COO role
Flutter Entertainment has confirmed the impending hire of a new CFO, Paul Edgecliffe-Johnson, who will replace existing group CFO Jonathan Hill.
Edgecliffe-Johnson joins from hospitality firm InterContinental Hotels Group (IHG), where he currently holds the dual role of CFO and group head of strategy.
He has 25 years’ experience in financial and international business, joining IHG in 2004. Prior to this, Edgecliffe-Johnson was an associate director of corporate finance at global bank HSBC.
He will formally join Flutter in the first half of 2023, also assuming an executive director role working in support of Flutter global CEO Peter Jackson.
The FTSE 100 operator confirmed that Jonathan Hill, who has been in the CFO role at Flutter since May 2019 and previously held the same role at Paddy Power Betfair, will transition to leading a new group COO function, beginning in 2023.
Hill will also exit Flutter’s board of directors as part of the switch, assuming an executive committee role with the new group COO role.
The function of the new COO role will, Flutter has said, be to “maximise the benefits of Flutter’s global scale and support the strategic direction of the business”, with Hill to continue working in the CFO role to support a transition.
“Given Jonathan’s expertise, knowledge of the business and role in shaping Flutter’s strategy, he is uniquely placed to set up the new group COO function for success,” Flutter said in a statement.
Jackson expressed his delight at the appointment of Edgecliffe-Johnson, highlighting his more than two decades of experience.
“I am confident that his highly relevant skills and experience will help us to take advantage of the significant opportunities before us and will be invaluable as we continue to execute our strategy,” Jackson said.
“I also wish to acknowledge Jonathan for all he has done for Flutter to date and I am very pleased that the group will continue to benefit from his experience in establishing the new COO function,” he added.
Jackson’s sentiments were echoed by Flutter Entertainment chairman Gary McGann.
“The board welcomes the appointment of a quality executive such as Paul and looks forward to working with him and the team into the future, and I look forward to continuing to work with Jonathan in his new role,” McGann added.
Flutter releases its Q3 2022 trading update on 9 November.