Debenhams Chief Appointed Chairman of Gala Coral

U.K. gaming company Gala Coral Monday named Debenhams PLC (DEB.LN) Chief Executive Rob Templaman as non-executive chairman and former Marks & Spencer Group PLC (MKS.LN) Executive Carl Leaver as chief executive.

Leaver, most recently director of international, home and direct at M&S, will take over from Chairman Neil Goulden who has been interim chief executive since July when Dominic Harrison left the group.

Goulden will step down from his chairman role immediately, the company said, although he will stay with the group until January to ensure an effective handover.

Gala Coral is now owned by its mezzanine lenders led by Apollo Management LP, Cerberus Capital Management LP and Park Square Capital, and York Capital management, following a major debt restructuring earlier this year.

Under the restructuring plan, the Apollo group took control of the company from private equity firms Permira, Candover Investments PLC (CDI.LN) and Cinven Group Ltd.

Gala Coral operates over 2000 betting shops in the U.K. and Italy and 27 casinos in the U.K. and Gibraltor.

-By Kathy Gordon, Dow Jones Newswires, +44 207-842-9293; kathy.gordon@dowjones.com

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