Alex Gersh is stepping down from his position as chief financial officer of Paddy Power Betfair, the latest in a growing list of departures from the betting giant.

The London Stock Exchange-listed operator confirmed in a brief statement on Monday that Gersh notified the Paddy Power Betfair board of his plans to leave the group “once a successor has been appointed.”

The betting operator has already tapped an executive search firm to help with the process of appointing Gersh’s replacement.

Gersh, a former executive at digital payment services provider NDS Cisco, joined Betfair in 2012 shortly after Breon Corcoran became the bookmaker’s chief executive. Gersh was instrumental in transforming Betfair’s corporate strategy. The finance chief worked with Corcoran to redevelop and reposition the bookmaker’s products, and was also a key stakeholder in the £5.5 billion merger with Paddy Power in 2015.