SBC News Voice of the Sports Betting Industry
Betfred is set to appoint a new Chief Operations Officer (COO), following the announcement by Mark Stebbings that he will depart the UK betting group at the end of this week.
The long-serving employee commented via his LinkedIn account: “After nearly 30 years, I have decided that it is the right time for me to leave Betfred. I am immensely proud to have been part of an incredible growth story.”
Reflecting on his three decade long tenure at Betfred, Stebbings acknowledged company founder Fred Done as an “unbelievable mentor,” who oversaw his progress and development across key stages of his career to become a company executive.
“Thanks to Fred Done, who has been an unbelievable mentor to me, and for the belief and faith he put in me as I made my way through the ranks from a trainee betting shop manager to group chief operating officer.”
Stebbings departs having overseen Betfred’s post-pandemic recovery strategy, implemented across the firm’s retail network of +1,400 betting shops. A return to ‘normalised trading’ saw corporate accounts for 2021/2022 declare underlying profits of £20m.
Further career highlights saw Stebbings serve as a key stakeholder of Betfred’s international expansion, which saw the Manchester-based bookmaker launch new properties in South Africa and US states of Colorado, Arizona, Ohio, Virginia, and Maryland.
“This week before I finish on Friday 29th will be emotional as I say goodbye to so many great people whom I have worked with for a number of years,” Stebbings concluded.
“I’m sure Betfred will continue to grow, and I wish Fred and his team continued success. I am looking forward to taking a short break, spending some quality time with my family before I decide what the future has in store for me.”
