Rank forms ‘Transformation Team’ to lead group-wide recovery

London listed Rank Group Plc, has announced a number of executive management changes, as the company moves to implement its corporate recovery plan.

Further to announcing its full-year 2017/18 results, London-listed gambling operator Rank Group Plc confirms the departure of Clive Jennings as Group Financial Director.

A long-term Rank leadership executive, Jennings has served as group finance lead since 2011.  Rank governance confirms that it is undertaking an executive search for Jennings replacement, and will provide an update as and when is appropriate.

The departure of Jennings sees Rank governance continue to restructure its corporate leadership, under the guidance of new Chief Executive John O’Reilly.

This week, O’Reilly confirmed that Rank executives would undertake a ‘corporate recovery plan’, led by new ‘Chief Transformation Officer’ Jim Marsh, an executive hire from consultancy McKinsey & Co.

Marsh is set to lead Rank’s ‘Transformation Team’, which will include in-bound Jonathan Greenstead as Chief Information Officer (CIO), a restructuring specialist formerly at Travelodge.

An under-pressure Rank executive team will be charged with implementing an effective corporate recovery plan for the legacy operator’s existing gambling verticals (Grosvenor, Mecca, international and digital properties), following two-years of corporate declines.

Its appears that Rank investors will grant ‘no honeymoon period’ for John O’Reilly as new leader…