Sam Foulkes, Head of Trading at gambling operator Coral, has recently resigned from his post. According to reports, Mr. Foulkes notified superiors for his intentions back in December 2015 and left the company earlier in February.
Talking to media about his resignation, Mr. Foulkes said that he is really proud of everything he has achieved at Coral but it was the right time for him to move on and look for a new challenge. He also pointed out that he has been looking at several exciting work offers and is likely to take up on a new role in the months to come.
A Coral spokesperson has confirmed Mr. Foulkes’ departure but said that the company has not found a permanent replacement for its former Head of Trading. The spokesperson further noted that given the operator’s strong team, they are in no hurry to appoint a new head of that particular division.
The announcement about Mr. Foulkes’ resignation came only five months after he had taken up his role as Head of Trading. Actually, his latest appointment saw him move from the gambling company’s Stratford-based headquarters to its offices in Gibraltar.
His promotion was part of the operator’s broader restructuring. The overhaul also resulted in Danny Greer being appointed as Head of In-play and the trading division being split into two separate teams – an in-play and a pre-match one.
Mr. Foulkes became part of Coral’s team in 2012. Prior to joining the gambling operator, he had spent 8 years at rival company William Hill. There, he had taken several positions, with Head of In-play Football and Senior Trader being few of those.
The news about Mr. Foulkes’ resignation comes as Coral’s parent company – Gala Coral – is in the middle of its probe of the proposed merger with rival gambling operator Ladbrokes. Under the deal, the two companies are to form Ladbrokes Coral, UK’s biggest chain of High Street betting shops with an estimated market value of £2.3 billion.
Currently, the merger is being reviewed by the UK Competition and Markets Authority and is expected to be completed later in 2016. Once this happens, Gala Coral will hold a 48.25% stake in the combined entity and Ladbrokes will own 51.75% in it.
