Ladbrokes says product head Ames to stop executive duties

July 30 Mon Jul 30, 2012 8:26am EDT

July 30 (Reuters) - Bookmaker Ladbrokes Plc said Richard Ames, the head of products responsible for trading and IT, "has ceased to perform his executive duties with immediate effect."

Earlier on Monday, the Telegraph reported that Ames had been fired over a botched digital strategy.

The company declined to comment on the reasons for Ames's departure but said he would remain on the board for now.

Britain's second-biggest bookmaker has struggled to keep up with rival William Hill Plc and faces strong competition from several online betting companies.

The company warned last month that profits from its digital division would fall more than expected in the first half due to a delay in technology upgrades and a poor sportsbook margin. .

Ladbrokes shares were down 4 percent at 156.3 pence at 1155 GMT on the London Stock Exchange.

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