Paddy Power Betfair (PPB) confirmed yesterday that Paddy Power co-founder Stewart Kenny will resign from the FTSE100-listed firm’s board. The former CEO and Chairman of Paddy Power remained on its board as a non-executive director since the company's merge with Betfair earlier this year.

Commenting on Kenny’s decision to step down,Gary McGann, Chairman of Paddy Power Betfair says:

“After 40 years in bookmaking and 28 years’ involvement with this business, Stewart has an enviable record in the industry and leaves a great legacy. He was instrumental in creating a highly successful international business from a small domestically-focussed retail operation at inception . . . Stewart, more than anyone, positively influenced the culture of the business. He played a hugely supportive role in the merger of Paddy Power with Betfair. He is retiring after many years of enormous service to the Company and the industry. We wish him every success in the future and thank him for his incredible contribution to this business.”