Red Devils Reboot: Manchester United Names Top Football Executive as New CEO

Manchester United PLC MANU disclosed the appointment of Omar Berrada as its new Chief Executive Officer on Friday.

The company will confirm the start date for Omar Berrada in due course, and Patrick Stewart will continue as interim CEO in the meantime.

Berrada is one of the most experienced football executives at the top of European football and brings a wealth of football and commercial expertise, with a proven record of successful leadership and a passion to help lead change across the Club. 

He is presently serving as Chief Football Operations Officer for City Football Group, supervising 11 clubs across five continents, and earlier held senior roles at Barcelona.

Last week, Manchester United reported a first-quarter adjusted EPS of $(0.067) loss, missing the analyst consensus of $(0.06) loss, while quarterly sales were $198.879 million, beating the consensus of $194.85 million.

The company cut FY24 guidance owing to the early Champions League exit and related reduction in Broadcasting revenues.

Also Read: Billionaire Jim Ratcliffe Secures Minority Stake In Manchester United, Boosting Club's Valuation To $6.3B

Price Action: MANU shares closed higher by 1.83% at $20.57 on Friday. 

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