Rank Group recently announced John Oates as the new chairman, who will officially take office on November 17. This personnel change coincides with the group's announcement of the first quarter results for the fiscal year 2025-2026, showing a 9% year-on-year increase in revenue, with digital business becoming the main driver of growth.
Chairman Appointment and Transition Details
John Oates will replace Alex Thursby, whose resignation as non-executive chairman was confirmed by the company in September and officially left at the annual shareholder meeting in October. During the transition period, Karen Whitworth served as interim chairman, and after Oates takes office, she will return to her role as senior independent director and audit chair.
John Oates's Professional Background
Oates has over 40 years of business consulting experience and is currently a senior consulting partner at Bain & Company's UK branch, having served the company since 2006. He founded and invested in financial services company Funding Xchange and property company The Hideaways Clubs, and has served as the strategic director at Barclays Bank, a partner at McKinsey, and assistant vice president at United Bank of America. Interim chairman Whitworth stated that Oates was rigorously selected, and his regulatory industry experience and global board collaboration capabilities will aid the group's strategic development.
Group's First Quarter Performance
Concurrent with Thursby's departure, Rank Group announced a net gaming revenue of £210.2 million for the first quarter, with digital business revenue increasing by 13% year-on-year to £61.6 million, including a 31% surge in Grosvenor's digital business, although revenue in Spain fell by 1% due to platform issues. CEO John O'Reilly responded to speculations about the UK budget, stating that the group had a profit of £44.6 million last year and had paid £188 million in taxes to the UK tax authorities.
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