Ladbrokes chairman Peter Erskine has announced that he is to step down from his position this year, with the search for his replacement now underway.

Senior non-executive director John Kelly will lead the search Erskine’s successor while he works with the board to ensure a smooth transition once a new candidate is identified.

Erskine has served as chairman and non-executive director of Ladbrokes since 2009. Prior to working with Ladbrokes, he was the chairman and chief executive of telecommunications firm O2.

He also held senior positions with BT, UNITEL and Mars, and currently serves as a director of Telefónica.