FanDuel founder Nigel Eccles leaves company

Mr Eccles said FanDuel was now "in a great position" after moving into profitability in the fourth quarter

One of the founders of daily fantasy sports operator FanDuel has announced that he is leaving the company.

Nigel Eccles, who co-founded the company in Edinburgh with his wife Lesley and several friends in 2009, is stepping down immediately as chief executive.

In a statement, FanDuel said Mr Eccles was leaving in order to "focus on his next venture".

He is being replaced by former FanDuel chief financial officer Matt King.

Lesley Eccles stepped down from the board earlier this year.

The company offers online fantasy contests across professional sports in the US and Canada.

FanDuel continues to have bases in Edinburgh and Glasgow but its headquarters are now in New York.

FanDuel was founded in Edinburgh by Nigel and Lesley Eccles in 2009

Mr Eccles was at the helm when the firm abandoned a plan to merge with rival DraftKings earlier this year.

In a statement, he said that with the business moving into profitability in the fourth quarter, FanDuel was now "in a great position".

He added: "I know Matt is the leader to capitalise on the momentum in the sports technology space to take FanDuel to the next level."

The FanDuel board said: "Nigel achieved something remarkable - he completely redefined an existing industry.

"His passion, intelligence, and focus have been the bedrock of FanDuel's success.

"We would like to offer our sincere thanks as he leaves to pursue his next venture."