Paddy Power boss to step down next year

Irish bookmaker Paddy Power has started the hunt for a new chief executive after Patrick Kennedy said he would be stepping down in April 2015.

Kennedy joined the group in 2005, becoming chief executive the following year. He said that a change at the helm after ten years “is good, both for the business and the individual”.

Chairman Nigel Northridge said the firm’s nominations committee will consider internal and external candidates for Kennedy’s successor.

Paddy Power sparked anger in March when the firm produced an advert offering punters a refund if Paralympic athlete Oscar Pistorius is acquitted of murder.