Entain has announced that Barry Gibson will be retiring from his role as Chair and from the company’s board at the end of September 2024.
In addition, the FTSE100 company has stated that current interim CEO Stella David will be replacing Gibson as Chair.
Gibson could also step down from the role earlier than scheduled, depending on the timing of the appointment of a permanent CEO, which Entain says is currently “ongoing and is progressing well”.
Commenting on his retirement, Gibson said: “It has been a privilege to lead the board of Entain for the past four years, and while I have thoroughly enjoyed my time at this dynamic, exciting and innovative business, I reflected a little while ago that 2024 would be the right time for me to retire.
“I am delighted that, in Stella, Entain has an exceptional successor who knows the business well and has already proven herself to be a firm hand on the tiller in her role as interim CEO.”
Gibson was appointed to Entain’s board in November 2019 before becoming Chair in February the following year.
As Chair, he has seen the company undergo its rebrand from GVC Holdings to Entain, overseen the board’s renewal, move to operate in only regulated or regulating markets and the resolution of the HMRC investigation into the group’s former Turkish-facing operations.
Entain also stated that during his tenure, group EBITDA has grown by over 50 per cent to approximately £1bn in 2023, while the US joint venture with MGM Resorts International, BetMGM, has gone from a start-up to a $2bn revenue business.
“Barry has worked tirelessly to navigate the company through numerous challenges, and on behalf of everyone connected with Entain I would like to sincerely thank him for his enormous contribution to this business,” noted Pierre Bouchut, Senior Independent Director.
“The board has been succession planning and reviewing potential options to replace him and we are delighted that Stella will be taking over as Chair. Her extensive board and Chair experience as well as her time as interim CEO will be hugely beneficial to the board and the wider group as she takes on her new role.”
Replacing Gibson as Chair later this year, David was previously a non-executive director and Senior Independent Director from March 2021, before becoming interim CEO in December last year.
David added: “Barry has been a wonderful mentor and source of wise counsel to so many people during his time as Chair of Entain and I would like to personally thank him for his unwavering support.
“The fact that we now have a solid platform and a clear plan for future growth is due in no small part to his efforts. I am entirely focused on my role as interim CEO as we work to accelerate our operational strategy and look forward to taking over the baton from Barry in due course.”
