Flutter confirms John Bryant to take on Chair duties from September

Flutter Entertainment has confirmed John Bryant as the group’s Chair Designate, with the new board member due to assume full Chair duties in September as the firm eyes US listing.

Bryant’s appointment was first reported in UK media earlier this month amid rumours of the FTSE 100 gambling group’s desire to trade on a US stock exchange, with Sky News stating that he would be appointed following its AGM.

The firm confirmed the reports this morning in a statement, revealing that Bryant will become Chair designate after the conclusion of today’s AGM before taking on the position of permanent Chairman on 1 September 2023.

Bryant – a Executive Chairman, CEO, CFO and COO of the Kellogg Company and non-executive director of Ball Corporation, Compass Group PLC and Coca-Cola European Partners plc – will replace current Chair Gary McGann.

Commenting on the incoming Chairman’s appointment, McGann said: “We are delighted to announce John’s appointment as Chair. John has had a stellar career in Kellogg Company, one of the most internationally renowned companies in the world. 

“He brings with him an enormous wealth of leadership experience in strategic, financial, and operational matters. It has been a privilege to serve as Chair of this very special Company and I wish John every success as he joins the Board at this pivotal point in Flutter’s evolution. I will use my remaining period as Chair to ensure a seamless transition to John.”

We’re excited to announce the appointment of John Bryant as NED & Chair Designate, coming on board at a pivotal point. Gary McGann will step down in September & we thank him for his contribution, during which the business has experienced exceptional growth https://t.co/nEdMcQfJiB pic.twitter.com/waOio0QOEM

— Flutter plc (@FlutterPLC) April 27, 2023

In addition to becoming Chair Designate of one of the world’s largest gambling multinationals, Bryant has also been named a Non-Executive Director and Chair of the firm’s Nomination Committee.

He takes on a leading role on Flutter’s board as the company seeks an enhanced international profile across various markets, as North America becomes its biggest revenue-driving region.

Last year saw Flutter retain a strong market position in the US via its FanDuel holding and recently entered the European and North African lottery market by acquiring Italian firm Sisal.

Moving forward, Flutter aims to secure a US listing to support entry into “deeper capital markets and enable it to retain American talent more easily”, as FanDuel becomes its largest revenue-generating business.

“I am very excited to succeed Gary as Chair of Flutter,” Bryant remarked. “I look forward to working with Peter and the management team to grow the business and to take advantage of the many exciting opportunities that lie ahead.”

Should Flutter’s leadership of the newly appointed Bryant and long-time CEO Peter Jackson secure shareholder backing for a US listing at its AGM, the firm could achieve a valuation of over $45bn via its combined trading on the LSE and a US exchange.

On Bryant’s appointment, Jackson remarked:  “I would like to thank Gary for the contribution he has made to Flutter over his nine years as Non-Executive Director, eight of which were as Chair. He has helped steer the business through an exceptional period of growth. 

“I am very much looking forward to working with John. His experience will be invaluable as Flutter continues to execute its growth strategy.”