REG - Entain PLC - Chairman Succession

EntainAnnouncement

04/04/2024 07:00

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RNS Number : 2384J  Entain PLC  04 April 2024

For Release at 7.00am

4 April 2024

 

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES AS INSIDE INFORMATION

 

 

Entain plc

("Entain" or the "Group")

 

Chairman Succession

 

Entain plc (LSE: ENT), the global sports betting and gaming group, announces
that Barry Gibson has given notice that he wishes to retire from his role as
Chair and from the Board.  Barry will step down by the end of September 2024,
and potentially earlier depending on the timing of the appointment of a
permanent CEO.  The search for a permanent CEO is ongoing and is progressing
well.

A process to identify his replacement has been part of the Board's ongoing
succession planning, and it is pleased to announce that Stella David will
become Chair on Barry's retirement.  Stella was a non-executive director and
Senior Independent Director from 4 March 2021 and became interim CEO of Entain
in December 2023.

Barry was appointed to the Board of Entain in November 2019 and became Chair
in February 2020.  During his time as Chair, Barry has played an integral
role in the transformation from GVC to Entain, which has included a
significant improvement in the quality of the Group's operations, revenues,
governance processes, and procedures.  He has also overseen the renewal of
the Board, the Group's focus on operating only in regulated or regulating
markets, and the resolution of the HMRC investigation into the Group's legacy
Turkish facing operations.  During his tenure, the Group has grown its EBITDA
by over 50% to approximately £1bn in 2023, and its US joint venture, BetMGM,
has gone from a start-up to being a $2bn revenue business with a strong market
position and outstanding growth prospects.

Pierre Bouchut, Senior Independent Director, commented: "Barry has worked
tirelessly to navigate the company through numerous challenges, and on behalf
of everyone connected with Entain I would like to sincerely thank him for his
enormous contribution to this business.  The Board has been succession
planning and reviewing potential options to replace him and we are delighted
that Stella will be taking over as Chair.  Her extensive Board and Chair
experience as well as her time as Interim CEO will be hugely beneficial to the
Board and the wider Group as she takes on her new role."

Barry Gibson, Chairman commented: "It has been a privilege to lead the Board
of Entain for the past four years, and while I have thoroughly enjoyed my time
at this dynamic, exciting and innovative business, I reflected a little while
ago that 2024 would be the right time for me to retire.  I am delighted that,
in Stella, Entain has an exceptional successor who knows the business well and
has already proven herself to be a firm hand on the tiller in her role as
Interim CEO."

Stella David, Interim CEO, commented: "Barry has been a wonderful mentor and
source of wise counsel to so many people during his time as Chair of Entain,
and I would like to personally thank him for his unwavering support.  The
fact that we now have a solid platform and a clear plan for future growth is
due in no small part to his efforts.  I am entirely focused on my role as
interim CEO as we work to accelerate our operational strategy, and look
forward to taking over the baton from Barry in due course."

 

 

 

Further information about Stella David

Stella has been interim CEO of Entain since December 2023 and was previously a
non-executive director and Senior Independent Director from 4 March 2021.
She is a non-executive director of Norwegian Cruise Line Holdings Ltd where
she is also chair of the Nominating and Governance Committee, and is a
non-executive director of the privately-owned Bacardi Ltd.  She was
previously CEO of William Grant & Sons, following more than 15 years with
Bacardi Ltd.  She was chair of C&J Clark Ltd (having previously acted as
interim chief executive officer), chair of Vue International, non-executive
director and senior independent director of HomeServe plc, non-executive
director and remuneration committee chair at the Nationwide Building Society,
and non-executive director of Domino's Pizza Group plc.

Enquiries:

 Company Secretary                      secretary@entaingroup.com (mailto:secretary@entaingroup.com)

 Investor Relations                     investors@entaingroup.com (mailto:investors@entaingroup.com)

 Media                                  media@entaingroup.com (mailto:media@entaingroup.com)

 Powerscourt                            Tel: +44 (0) 20 7250 1446

 Rob Greening/Russ Lynch/Sam Austrums   entain@powersco (mailto:entain@powerscourt-.com) urt-group.com
                                        (mailto:entain@powerscourt-.com)

Inside Information

This announcement contains information that qualifies as inside information
within the meaning of Article 7 of the Market Abuse Regulation (EU) No.
596/2014 as it forms part of English law by virtue of the European Union
(Withdrawal) Act 2018.  The person responsible for releasing this
announcement on behalf of the Company is Simon Zinger, General Counsel.  Upon
the publication of this announcement via a regulatory information service,
this inside information is now considered to be in the public domain.

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest
sports betting and gaming groups, operating both online and in the retail
sector. The Group owns a comprehensive portfolio of established brands; Sports
brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds,
Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands
include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its core product
verticals and in addition to its B2C operations provides services to a number
of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and
iGaming in the US. Entain provides the technology and capabilities which power
BetMGM as well as exclusive games and products, specially developed at its
in-house gaming studios. The Group is tax resident in the UK and is the only
global operator to exclusively operate in domestically regulated or regulating
markets operating in over 30 territories.

Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by
MSCI. The Group has set a science-based target, committing to be carbon net
zero by 2035 and through the Entain Foundation supports a variety of
initiatives, focusing on safer gambling, grassroots sport, diversity in
technology and community projects. For more information see the Group's
website: www.entaingroup.com (http://www.entaingroup.com/) .

LEI: 213800GNI3K45LQR8L28

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