plc, the global on-line gaming group, today announces that Vincent Caldwell is stepping down from the position of managing director and resigning from the Board of the Company, with immediate effect, to pursue other interests.

The Board has appointed Paul Doona, currently finance director, as managing director, with immediate effect. In anticipation of a broader management role, Mr Doona has already recruited additional strength into the finance function. Furthermore, Mark Child, non-executive director, will undertake an additional remit to develop a number of strategic initiatives, outlined in the interim results, with regard to possible acquisition opportunities.

Commenting on the changes, Jim Mellon, Chairman said “Vincent was the entrepreneurial spirit behind the formation of betinternet and has worked tirelessly to create opportunities for the business. I am pleased that we will be able to call on his assistance, as required, during the next six months, and we wish him well in the future.

“I am, however, very confident that we have established a strong management team with the appropriate blend of skills necessary to take the company forward.

“As I said in the interim report, The Company is now cash flow positive and all the key ratios are promising. As a result I have every confidence that we will go from strength to strength.”