International Gambling Operator Entain To Get New Board Chair This Year

Article by : Erik Gibbs Apr 9, 2024

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Barry Gibson, the current chairman of global gaming giant Entain plc, will step down later this year. Entain announced that Stella David, the interim CEO, will be assuming the role of chairman following his departure.

Gibson joined the board back in November 2019 and took on the chairmanship in February 2020. Under his leadership, the company underwent a significant transformation, rebranding from GVC Holdings to Entain plc.

Gibson is set to officially resign no later than September 2024, with the possibility of an earlier departure following the appointment of a permanent CEO.

Reflecting on his tenure, Gibson expressed gratitude for the opportunity to lead Entain for the past four years. He mentioned that he had contemplated retirement and recognized 2024 as the right time to step down.

Gibson also expressed confidence in Stella David, praising her as an outstanding successor who is well-versed in the business and has already demonstrated her capabilities as interim CEO.

David assumed the role of non-executive director in March 2021 and stepped in as interim CEO, replacing former CEO Jette Nygaard-Andersen, in December 2023.

Expressing gratitude for Barry’s guidance, David acknowledged his invaluable support throughout his tenure as Entain’s chairman. She credited his leadership for establishing a robust foundation and outlining a clear path for future growth.

David emphasized her commitment to her interim CEO role, focusing on accelerating the company’s operational strategy. She anticipates transitioning into the chairman role from Barry in due course.

Entain is currently exploring the potential sale of its overseas brands following a challenging 2023, marked by a net loss of $1.19 billion. Among the brands under review are BetCity in the Netherlands, Enlabs in Sweden and CrystalBet in Georgia.

Barry Gibson’s journey commenced at GVC Holdings but concluded at a profoundly transformed Entain.

During his tenure on the board, the looming specter of an investigation by Her Majesty’s Revenue and Customs (HMRC) into the operator’s former Turkish business cast a shadow. This probe was initiated before his arrival, despite GVC’s assertions of detachment from the Turkish operations following the asset sale in 2017.

The abrupt departure of Chief Executive Kenny Alexander coincided with HMRC’s expansion of its investigation to scrutinize potential corporate misconduct in 2020. Under Gibson’s stewardship, GVC underwent a metamorphosis into Entain, signifying a shift towards a more socially responsible approach.

As part of this transformation, the company committed to withdrawing from unregulated markets where regulatory compliance seemed unattainable.