Harris will replace Simon Hay as the new CFO of Rank, joining in May. Hay will continue as interim CFO until Harris takes over. Former CFO Bill Floydd stepped down last year to join Watches of Switzerland Group. Harris comes from estate agency Foxtons Group, where he served as CFO since June 2019. Prior to that, he worked as group financial controller for Laird plc and spent 11 years at Marks and Spencer. Harris expressed excitement to join Rank and work closely with the team and board to deliver the group’s strategy.
Rank’s CEO, John O’Reilly, believes that Richard’s extensive experience in financial and operational roles will be invaluable for the next phase of Rank’s transformation plan. O’Reilly looks forward to welcoming Harris in 2022.
In October, Rank forecasted a 69% year-on-year rise in group revenue for the first quarter of its 2021-22 financial year. Growth is expected in all areas of the business. A trading update revealed that Rank anticipates total like-for-like revenue of £163.1m for the three months ending on September 30, in line with expectations.
In November, it was announced that Her Majesty’s Revenue and Customs (HMRC) will repay Rank £77.5m due to the wrongful application of value-added tax (VAT) on certain gaming machine revenue between 2006 and 2013.
