Entain Plc has announced that Stella David has begun her tenure as Chair of the Board of the FTSE 100 gambling group as of 1 October 2024.
Announced in H1, Stella David was elected to succeed Barry Gibson as Chair, following his decision to step down from all duties related to Entain’s corporate governance.
Prior to the succession, David had served as Interim CEO of Entain, after the resignation of Jette Nygaard-Andersen in December 2023.
Elected as a Non-Executive Director (NED) of Entain in 2021, David had previously served as Chair of Norwegian Cruise Lines and as a corporate director at Bacardi and Domino’s.
The Board of Entain confirmed that David will also serve as Chair of the People & Governance and Capital Allocation Committees, as well as a member of the Sustainability & Compliance Committee with immediate effect.
Further changes include the appointment of Helen Ashton(NED) as Chair of the Audit Committee, succeeding Pierre Bouchut, who will continue as a member of this committee.
In July, Entain concluded a six-month executive search, announcing the appointment of Gavin Isaacs as the new Chief Executive.
The former President of Scientific Games and Chairman of SBTech, Isaacs will spearhead the new corporate strategy of the FTSE 100 group, aiming to return the company to growth following corporate losses of £900m ($1.098 billion) in 2023 and to restore its former value for shareholders.
A critical concern, H1 trading saw Entain post unsatisfactory results for its UK and Ireland online business, with revenues declining by 8% and underlying EBITDA dropping 25% to £87m (($106.14 million).
Despite leadership changes and the forthcoming ‘Project Romer’ technical upgrades, Entain maintains its full-year EBITDA guidance, expected to be in the range of £1,040m–£1,090m.
Gavin Isaacs and Stella David will present Entain’s new leadership statement ahead of the Q3 trading update on 17 October 2024.
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