Paddy Power boss Patrick Kennedy is to step down from his role as chief executive in April 2015, the company said in an announcement to the Stock Exchange this morning.
By 9am, the bookies share price had fallen 4.1 per cent.
The board of the company is to commence a process to select a replacement for Kennedy, who joined Paddy Power in 2005 and has been chief executive since January 2006.
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