Rank Group confirms Floydd as new CFO

1 November 2018

Rank Group CEO John O’Reilly has backed new chief financial officer William Floydd to help deliver a “growing business that is fit for the future”.

Floydd will join Rank on November 12, having most recently served as CFO for Experian plc's UK and Ireland region.

Prior to this, Floydd spent 12 years in various leadership positions at Logica plc, before it was acquired by CGI Group Inc. In addition, he had a nine-month spell as finance director at Capita plc’s IT Services division.

Speaking about the appointment, O’Reilly said: “There is much to be done to deliver our transformational programme and I am confident that Bill is the right person to assist me and the leadership team in delivering a growing business that is fit for the future.”

Announced earlier this year, Rank’s transformation programme is aimed at delivering revenue growth, greater cost efficiency and improved organisational effectiveness. The company has identified increased focus on the customer, digital growth, cost efficiencies and organisational capability as four key areas of improvement.

Confirmation of the appointment will mean that James Pizey, who stepped in as interim CFO following the exit of Clive Jennings, will now move into the role of group financial controller.

O’Reilly said: “I would also like to take this opportunity, on behalf of the board, to thank James Pizey for stepping into the CFO role on an interim basis whilst we conducted the search for a permanent CFO.”

The addition of Floydd to the Rank senior team comes after the firm last month reported a drop in revenue for the 16 weeks to October 14, despite a positive showing by its digital business.

Prior to the announcement, O’Reilly, who took over as CEO in April, had set out his plans to improve the business, saying its performance in recent times had not been “good enough”.

Rank was also recently slapped with a fine by the UK Gambling Commission for breaching problem gambling rules, after a customer lost £1m (€1.1m/$1.3m) in a single 24-hour period.