REG - Entain PLC - Directorate Change

EntainAnnouncement

13/12/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231213:nRSM5639Wa&default-theme=true

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 (mailto: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 (mailto: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 (mailto:entain@powerscourt-group.com) urt-group.com
                                                           (mailto:entain@powerscourt-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 (http://www.entaingroup.com)

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  BOAGPGPPPUPWPWP