Alex Thursby to exit as chair of Rank Group – People moves

Rank Group has announced that Alex Thursby will step down as its non-executive chair after six years in the role.

Thursby informed the group’s board that he does not intend to stand for re-election. He will formally step down as chair and from the board at Rank’s annual general meeting on 15 October.

Thursby joined the Rank board as a non-executive director in August 2017. He then went on to become chair in October 2019.

Prior to his time with Rank, Thursby was chief executive of the National Bank of Abu Dhabi from 2013 to 2016. He also held various senior roles at Australia and New Zealand Banking Group, following 20 years with Standard Chartered Bank.

“For a number of months now I have been reflecting on this exciting inflection point for Rank, with the long-awaited legislative reforms for casinos now being implemented and a digital business which is beginning to scale,” Thursby said. “I believe now is the right time to step down.

“I do so with a combination of pride in the progress we have made, including in terms of governance processes and procedures, and also with confidence that Rank is in excellent shape to write the next exciting chapter of its rich history.”

Rank commences search to replace Thursby

Confirming the news, Rank said a process to identify a replacement is “well advanced”. It added that an appointment is “close”, and an announcement is expected within the next couple of months.

Karen Whitworth, senior independent director at Rank, will serve as interim chair. Lucinda Charles-Jones will become interim senior independent director, and Keith Laslop interim audit committee chair.

Rank CEO John O’Reilly paid tribute to the outgoing Thursby, describing him as a “committed and talented” chair.

“I would like to thank him personally for his unwavering support and for his dedication to the Rank Group and to its stakeholders,” O’Reilly said. “Our recent successes and outlook are due in no small part to his sure-footed guidance and invaluable leadership.”

Positive FY25 at Rank amid changing regulations

The news comes after Rank in August published its FY25 financial results, revealing year-on-year growth. Net gaming revenue rose 8% to £795.4 million ($1.08 billion), with growth apparent across all core segments.

Net profit was also higher, rocketing 248% to £44.6 million. However, in its analysis of the year, Rank noted the impact of new regulations. The statutory levy for research prevention and treatment of problem gambling was introduced from April 2025 in the UK, rising from an existing voluntary rate of 0.1% to 1.1%. A maximum staking limit for online slots play of £5, and £2 for consumers aged under 25, was also implemented in April 2025.

According to Rank, the impact on digital profitability in the final quarter of the year was approximately £1 million. Therefore, it said the expected annualised impact will be in the region of £4 million going forwards.

On the flip side, the other changes in regulation noted by Thursby in his leaving notes have allowed Rank to expand operations. Work is ongoing to install more terminals across its UK estate. The group is also seeking to introduce sports betting at its venues for the first time.