Betfred's Group Chief Operating Officer, Mark Stebbings, is set to depart from his role later this week after a remarkable tenure spanning nearly three decades. Stebbings has played a pivotal role in the company's growth and evolution.
In his LinkedIn post, Stebbings shared his decision to leave Betfred: "After nearly 30 years, I have decided it is the right time for me to leave Betfred. I am immensely proud to have been part of an incredible growth story."
Stebbing expressed deep gratitude to Fred Done, the company's founder, whom he described as an "unbelievable mentor" and credited for believing in him as he climbed the ranks from a trainee betting shop manager to group chief operating officer.
During his tenure, Stebbings oversaw Betfred's recovery strategy in the post-pandemic landscape, particularly focusing on the company's retail network, which comprises over 1,400 betting shops. This strategy resulted in underlying profits of £20 million for 2021/2022 as normal trading conditions were restored.
Stebbings also played a crucial role in Betfred's international expansion, with the company launching operations in South Africa and multiple U.S. states, including Colorado, Arizona, Ohio, Virginia, and Maryland.
As he bids farewell to Betfred, Stebbings is looking forward to a well-deserved break with his family and considering future endeavors.
Betfred has not yet disclosed details about Stebbings' successor. The departure of Stebbings coincides with several management changes within Betfred USA, further signaling shifts within the organization. Kresimir Spajic recently assumed the role of CEO for Betfred USA, and Bryan Bennett, former COO, stepped down as well.
Betfred is now actively seeking a new Chief Operations Officer (COO) as it continues to navigate changes and growth in the betting industry.