Entain makes five appointments following CEO resignation

Entain has announced further appointments with immediate effect shortly following its announcement of Stella David becoming Interim CEO.

The global sports betting and gaming giant has firstly named Pierre Bouchut as its new Senior Independent Director.

Meanwhile, Virginia McDowell now officially becomes Chair of the Remuneration Committee, and Barry Gibson – who currently serves as Chairman of the company – as Chair of the People and Governance Committee.

Entain’s final appointment is Rahul Welde, who becomes a member of the People and Governance Committee.

Gibson remarked: “On behalf of the Board, I am delighted that Pierre has agreed to take on the role of Senior Independent Director to replace Stella. His extensive board experience and knowledge of the Company makes him ideally placed for the role of Senior Independent Director. 

“I am also grateful to Virginia and Rahul that they have agreed to take on these additional responsibilities.”

It was just last week that Jette Nygaard-Andersen resigned from her position of CEO at the FTSE 100-gambling group – a decision which also came into play immediately.

Gibson also commented on Nygaard-Andersen’s departure from the company, thanking her for her services.

“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,” he said.

The appointments come soon after the resolution of HMRC’s investigation into Entain this month, which looked into the company’s former Turkish-facing business.

As communicated prior to the settlement, Entain agreed to pay a total of £585m, comprising a financial penalty and disgorgement of profits. Entain has pledged a further £20m charitable donation, and a £10m contribution to HMRC and CPS costs.

The company disclosed: “The financial penalty, disgorgement of profits and the charitable donation will be paid in instalments over the term of the DPA, which will be four years from today’s date.”

The Court granted a full discount (without inflation adjustments) on the financial penalty due to Entain’s “exemplary cooperation with HMRC and CPS”.