Barry Gibson Set to Depart from Chairmen Role at Entain
Entain has announced the imminent departure of its Chairman, Barry Gibson, who will be stepping down by the end of September 2024.
LISTEN TO THIS ARTICLE:Gibson became a member of the Entain board in December 2019 and assumed the role of the Chair in February 2019. During his tenure, Gibson was instrumental in the transition from GVC to Entain, which has seen the Group improve the quality of its operations, revenues, governance processes, and procedures.
Gibson was also credited with supervising the renewal of the Board and the Group's commitment to operating solely in regulated markets, as well as the resolution of the HMRC investigation concerning the Group's former Turkish-facing operations.
Under his leadership, the Group has achieved a remarkable EBITDA growth of over 50% to $1bn in 2023. Additionally, its US joint venture, BetMGM, has transitioned from a start-up to a $2bn revenue business.
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.
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Stella David to Become New Chair
Upon exiting the position, Gibson will be replaced by interim CEO Stella David. Stella served as a non-executive director and Senior Independent Director from March 4, 2021, before becoming the interim CEO of Entain in December 2023.
According to Entain, there is a potential for David to replace Gibson earlier than September, depending on when a permanent CEO is appointed.
David was nominated as interim CEO following Jette Nygaard-Andersen's resignation prompted by investors' dissatisfaction with the Entain Group's underperformance.
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 I look forward to taking over the baton from Barry in due course.
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