TIDMENT
RNS Number : 5639W
Entain PLC
13 December 2023
13 December 2023
THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY
QUALIFY AS INSIDE INFORMATION
Entain plc
("Entain" or "Group")
Directorate Change
Entain plc, the global sports betting and gaming group,
announces that Jette Nygaard-Andersen, Chief Executive Officer, has
informed the Board that she wishes to stand down from the Group
with immediate effect.
The Board has asked Stella David, currently a non-executive
director, to become Chief Executive Officer on an interim basis.
Stella will start this week and will remain in the role until a
permanent replacement has been found.
Barry Gibson, Chairman of Entain, said: "Under Jette's
leadership, Entain has executed a fundamental strategic shift
towards regulated or regulating markets, overhauled its governance,
transformed its operations, and significantly improved its customer
offering.
Jette's decision to leave comes after the resolution of HMRC's
investigation into the Company's legacy Turkish-facing business.
She has offered exceptional leadership during what has been a
hugely challenging period. It is no exaggeration to say that the
HMRC investigation posed a number of threats to our Group. As the
court last week recognised in approving a deferred prosecution
agreement (DPA), had the matter not been resolved by way of a DPA,
the consequences to the company and all of its stakeholders could
have been disproportionate. The overhaul of the business model,
strategy and culture of the Group in recent years was vital to
securing the successful conclusion of a DPA process.
We are all indebted to Jette for her dedication to steering the
company through such a difficult time. She has also led the
executive team in devising a new commercial strategy that I am
confident will lead to stronger organic growth and a more
profitable Entain. On a personal note, I am sorry to see Jette
leave the business .
In Stella David we are hugely fortunate to have an intensely
commercial leader with a long track record of success across
multiple industries. I am confident that she will quickly help to
set us on the path to achieving our strategic aims while we conduct
a rigorous search for a permanent CEO."
Jette Nygaard-Andersen said: "The past three years have been
rewarding and challenging in equal measure. The resolution of the
HMRC investigation into the legacy business, which was sold by a
former management team in 2017, offers a clean inflection point for
me and for Entain. The Group is now safe, stable and sustainable
and I believe that this is the right time to move on to other
business and career opportunities."
Stella David said: "I have been a Director of Entain for almost
three years and have seen up close the extraordinary hard work that
Jette and her team have put in overhauling the culture and
practices at Entain. I look forward to helping to build on the
strong foundations for future commercial success that she leaves
behind her."
This announcement contains information that qualifies or may
qualify 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
Enquiries:
Investor Relations - Entain plc investors@entaingroup.com
David Lloyd-Seed, Chief IR & Communications Officer
Davina Hobbs, Head of Investor Relations
Aimee Remey, VP US Investor Relations
Callum Sims, IR Manager
Media - Entain plc media@entaingroup.com
Lisa Attenborough, Head of Corporate Communications
Jay Dossetter, Head of Corporate PR
Jodie Hitch, PR Manager
Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening/Russ Lynch/Sam Austrums entain@powersco urt-group.com
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 40 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
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END
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