Entain plc the FTSE 100 listed owner of Ladbrokes have this morning announced Jette Nygaard-Andersen as their new Chief Executive Officer with immediate effect, with Shay Segev standing down from the role.
Despite having to serve a 6 month notice period, Segev relinquishes the post of CEO as of this morning, but will be on hand as and when needed by Nygaard-Andersen, until he leaves the company on the 8th July to take up the Co-CEO role at the streaming service DAZN.
The appointment of Nygaard-Andersen is not the only change at board level the company have made, with the current Chief Financial Officer Rob Wood also taking on the responsibilities of Deputy CEO. Whilst Sandeep Tiku the company’s Chief Operating Officer will be appointed to the board of directors later this year
Commenting on the announcement of Nygaard-Andersen being unveiled as the new Chief Executive Officer of Entain, Chairman Barry Gibson said: “We are extremely fortunate to have such an outstanding candidate and readymade CEO in Jette. She is already deeply immersed in Entain’s strategy, and clearly shares our ambition to be the world-leader in sports betting and gaming entertainment.”
On the elevation of Rob Wood to Deputy CEO, Gibson commented: “Jette and I have been immensely impressed by Rob. He is extremely well regarded internally and externally, and the additional responsibilities will enable him to further develop his operational skills as well as overseeing a key tenet of our growth ambitions through M&A.”
While Gibson also noting Tiku joining the board of directors later this year, stated: “Sandeep has been integral to the development of Entain’s unique proprietary technology platform, which is a source of significant competitive advantage. His appointment not only reflects his contribution to the success of Entain but is also aligned with our aim to have a broader range of experiences and inputs on the Board.”
Nygaard-Andersen commenting on being appointed as the new CEO of Entain, said: “I am very excited to have the opportunity of continuing the extraordinary momentum that Entain has in its existing markets, as well as helping it enter new regulated markets and reach new audiences.”
“I am delighted that Rob has agreed to take on broader responsibilities and that the importance of our proprietary technology is recognised through Sandeep’s appointment to the Board. I am deeply wedded to Entain’s commitment to providing industry-leading levels of player protection, and to its philosophy that the most sustainable business in our industry will be the most successful business in our industry. I cannot wait to get started.”
It has been an extremely busy start to 2021 for Entain, having seen off an £8bn takeover approach by their partners in the US MGM Resorts International and also having to deal with Segev’s surprise departure for pastures new, the company have also been in discussions to purchase Enlabs AB. Of which they published the offer document for the Swedish betting company yesterday.