Entain announced last week that it would be reorganizing its board of directors following the departure of Jette Nygaard Andersen, CEO.
Last week, the gambling group announced that Stella David, who is currently a non-executive board member, would take over as interim CEO with immediate effect after Nygaard Andersen left.
David’s new position has caused a number of changes within the boardroom as well as in board committees. Entain appointed Pierre Bouchut, a board member, as senior independent director to replace David.
Virginia McDowell has been appointed chairperson of the Remuneration Committee. Barry Gibson, the group chairman is now the chairperson of the People and Governance Committee. Rahul Welde was appointed to the People and Governance Committee.
Bouchut was appointed as non-executive Director to Entain’s Board in 2018. Bouchut has over 40 years’ experience as a senior manager in finance, European Retail and European Property.
Gibson, the chair of Entain, said that Pierre’s knowledge and experience make him a perfect candidate to fill David’s old position.
He said, “On behalf the board I’m delighted that Pierre agreed to accept the position of senior independent Director to replace Stella.” His extensive board knowledge and experience makes him the ideal candidate for the position of senior independent Director.
I am grateful that Virginia and Rahul have also agreed to accept these new responsibilities.
Entain to hire BetMGM critic
Entain, which has been targeted by activist groups this year, is likely to add Ricky Sandler from Eminence Capital’s investment firm to its board.
Sandler had previously asked Entain to either sell the joint venture BetMGM with MGM Resorts or all of it.
Sandler, the founder of Eminence Capital is likely to join the board of directors by the end this month. This was reported in the Sunday Times on Saturday. The report cited sources familiar with the situation.
Nygaard-Andersen exits after CPS resolution
Nygaard Andersen resigned a few days after Entain settled a case, involving historical activities in Turkey.
Entain agreed to pay an Entain financial penalty of PS585.5m ($740.8m/EUR679.0m), as well as PS20m in charitable donations and PS10m for HMRC costs and CPS.
Gibson, in reference to Nygaard Andersen’s resignation, said that she had played an important role in the settlement of the Deferred Prosecution Agreement.
Gibson stated that “she has provided exceptional leadership in what was a very challenging time.” It is not an exaggeration that the HMRC probe posed many threats to our company.
We are all grateful to Jette’s dedication in steering the business through such a challenging time.