Ladbrokes Plc, the UK gambling group, has started an intensive search for a new head after its current Chief Executive Officer, Christopher Bell, announced that he is stepping down from his post. There has have been rumors of dissatisfaction amongst shareholders of the company’s performance under Bell’s leadership, although Ladbrokes said Bell’s departure had nothing to do with his relationship with the company directors.

In an interview, the 52 year old Bell said that disquiet by some of the company’s investors was “one of the reasons why I thought it was time for me to let someone else have a go, though genuinely I had been considering stepping down in 2010. I never wanted to be one of those people who stayed on and then felt he should have gone earlier.”

Bell said: “There are shareholders who have not been happy. They have made their feelings known, in some cases quite vociferously, as is their right. I understand that. But it would be wrong to say they acted in concert.”

It is expected that Ladbrokes will search for a replacement from inside the company, although there always exists the possibility of finding a suitable external candidate. Headhunters JCA have been appointed to examine suitable candidates and names such as ex Marks and Spencer director Carl Leaver or easyJet bos Andy Harrison coming up in industry speculation.

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