Clive Jennings will be leaving the listed business to pursue other opportunities on 17 August 2018. Rank’s board thanked Jennings for the “significant role he has played in the development of the company over his 18-year tenure”.

“Clive has led the finance team through a number of complex acquisitions and regulatory changes and the board wishes him well in his future endeavours,” said chairman Ian Burke.

Jennings added: “I have thoroughly enjoyed my time with Rank and I wish Ian, John and the team all the best with future plans as I take on my next challenge.” Rank confirmed that it a search for Jennings’ successor was underway.