In a significant move, Betfred, a prominent UK betting group, has announced its search for a new Chief Operations Officer (COO). This decision follows Mark Stebbings’ revelation that he will be parting ways with the company by the end of the week.Mark Stebbings, who has been with Betfred for nearly 30 years, expressed his sentiments on his departure through his LinkedIn profile. He stated, “After nearly 30 years, I have decided that it is the right time for me to leave Betfred. I am immensely proud to have been part of an incredible growth story.”During his time with Betfred, Stebbings had the privilege of working under the mentorship of the company founder, Fred Done. He expressed his gratitude, saying, “Thanks to Fred Done, who has been an unbelievable mentor to me, and for the belief and faith he put in me as I made my way through the ranks from a trainee betting shop manager to group chief operating officer.”
Successful Tenure
Stebbings played a pivotal role in Betfred’s recovery strategy post-pandemic, which was rolled out across its vast retail network of over 1,400 betting shops. This strategy bore fruit as the company reported underlying profits of £20m for the fiscal year 2021/2022.Apart from his contributions to the domestic market, Stebbings was instrumental in Betfred’s international foray. Under his leadership, the Manchester-based bookmaker expanded its footprint to new territories, including South Africa and several US states such as Colorado, Arizona, Ohio, Virginia, and Maryland.As he prepares to bid farewell to the company and his colleagues, Stebbings shared his emotions, “This week before I finish on Friday 29th will be emotional as I say goodbye to so many great people whom I have worked with for a number of years.”He concluded with optimism for Betfred’s future, “I’m sure Betfred will continue to grow, and I wish Fred and his team continued success. I am looking forward to taking a short break, and spending some quality time with my family before I decide what the future has in store for me.”