Rank Group Chair Alex Thursby to leave board in October
Rank Group PLC on Thursday said that its Chair Alex Thursby will not be standing for re-election at the firm’s annual general meeting on October 15.
The recruitment process for his successor is ‘well advanced’, Rank noted. The Maidenhead, Berkshire-based gambling firm and Grosvenor Casino owner plans to appoint a new chair ‘within the next couple of months.’
Karen Whitworth, the firm’s senior independent director, will serve as interim chair in the meantime.
Thursby joined the board in 2017 and took over as chair in 2019.
‘I have been reflecting on this exciting inflection point for Rank, with the long-awaited legislative reforms for casinos now being implemented and a digital business which is beginning to scale, and I believe now is the right time to step down,’ he said.
When Rank published interim results in August, it said that legislative reforms passed in July will allow the firm to increase gaming machine numbers by roughly 850 across its 50 Grosvenor venues in 2025 to 2026. This is in addition to the existing estate of 1,367 machines, with sports betting introduced to 38 venues.
Rank’s pretax profit grew to £53.9 million in the 12 months ended June 30 from £15.5 million a year earlier.
The firm’s shares were down 1.6% at 132.00 pence on Thursday morning in London.
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