Bookmaker Paddy Power has announced that Andy McCue will be its new chief executive.

Mr McCue will take over from Patrick Kennedy next January and he will also become a director of the company with immediate effect.

He has been with the bookies for eight years and is currently managing director of its Retail UK & Ireland operations. 

Patrick Kennedy announced in May that he was standing down from the CEO position after ten years in the job.

Nigel Northridge, the company's chairman, said that Mr McCue has an outstanding track record and has consistently demonstrated strong leadership across the business as a key member of the Management Committee and in his role driving the regulatory agenda. 

"Andy is the ideal leader to drive Paddy Power’s next phase of growth," he added.