Rank Group CFO Bill Floydd has resigned as the operator’s CFO, with a view to leaving the company at the end of 2021 and becoming CFO at Watches of Switzerland.
According to Proactive Investors, Floydd will be replacing Anders Romberg at Watchers of Switzerland, collecting a £380,000 (c. $521,000) annual salary.
It was recently reported that Rank Group could be in line for an £80m tax refund over VAT paid on machine income.
However, that does not hide the reality of its recent financial results, which it is safe to assume were at least a factor in Floydd’s planned departure.
In its FY2020-2021 results, Rank reported significant declines, with net gaming revenue falling 50% year-on-year to £288.2m, and even its digital revenue falling 6% at a time when online gaming simply boomed.
John O’Reilly, Rank Group CEO, said: «Bill has been an excellent CFO since joining Rank shortly after I joined in 2018 and I will be sad to see him go.
«He has helped secure the Group’s liquidity and future through the pandemic and will leave Rank in excellent financial shape. I wish Bill all the very best with his next venture and look forward to securing his replacement over the coming months.»
Floydd himself added: «I have thoroughly enjoyed my time at Rank and feel now is the right point at which to pursue my next opportunity.
«While the last 18 months have been an extraordinary period for everyone, I am confident Rank will go from strength to strength now that it is back open for business and John and the team continue to deliver on the Group’s transformation programme.»