Flutter Entertainment hires CEO of tobacco giant as Non-Executive Director

Stefan Bomhard, the outgoing CEO of Lambert & Butler and Woodbines cigarette manufacturer Imperial Brands, has joined Flutter Entertainment as a Non-Executive Director.

Flutter’s new joiner will start his role on 1 October, the day he is succeeded as CEO of Imperial Brands by the firm’s current Chief Financial Officer, Lukas Paravicini, though Bomhard will continue to work with the company until early 2026.

His responsibilities at Flutter will, in line with the usual specifics of an NED role, likely concern strategic advisory and guidance without playing a direct role in managing Flutter’s day-to-day betting and gaming operations.

Bomhard has been CEO of Imperial Brands since 2020, having taken on the leadership role at the tobacco firm after completing a five-year tenure as CEO of automotive distribution company Inchcape.

His experience of leading a multinational company with various well known brands in its field has likely piqued Flutter’s interest, with Imperial manufacturing some widely purchased tobacco products including the aforementioned cigarette brands as well as Golden Virginia rolling tobacco and Rizla rolling papers.

This could be compared to Flutter’s brand portfolio encompassing some of the gaming industry’s biggest names such as Sky Bet and Paddy Power in the UK and Ireland, FanDuel in the US, Sportsbet in Australia and Snai and Sisal in Italy, among others. 

John Bryant, Chair of the Board, said “Following an extensive search as part of our on-going Board renewal process, I am delighted to welcome Stefan as a non-executive director. Stefan has significant experience working in international environments, particularly in the operation, sales and marketing of well-known consumer brands. 

“We look forward to Stefan joining the Board and contributing to Flutter’s future.”

Different worlds, shared struggles?

Flutter’s decision to hire a NED from the tobacco industry is also an interesting one, given the extensive debate around gambling regulation, the potential harmful impacts of the industry, and comparisons between different addictive products.

In the UK, for example, campaigners have often called on the government to adopt a similar approach to gambling as it does to cigarettes, particularly around marketing. This was seen throughout the duration of the Gambling Act review and the debate around sports sponsorships.

Similarly, some governments are weighing up whether to lump tobacco, gambling and alcohol together in ‘sin taxes’. The Indian government notably did so shortly before its ban on real-money games was rushed through parliament. 

The Mexican government is also now evaluating its options, and some UK media reports suggest that Rachel Reeves, Chancellor of the Exchequer, is considering a sin tax on gambling, alcohol, tobacco and high-fat foods as part of the next budget. 

In the context of increasingly strict regulations and shifting tax dynamics, the new NED’s experience of the tobacco industry could prove useful for Flutter. 

Tobacco is one of the most tightly regulated industries out there, and with Flutter’s international presence covering all five populated continents, having a man on board with similar experience of navigating multinational regulations in an often controversial industry could be very valuable.

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