Gavin Isaacs steps down as Entain CEO after just six months
The surprise announcement comes into effect immediately.
UK.- It’s all change again at the helm of the FTSE100-listed gambling giant Entain Plc. The company is seeking a new CEO after announcing that Gavin Isaacs stepped down from the role of CEO this morning after fewer than six months in the position.
The surprise departure means that Entain’s chair, Stella David, will again take on the role of Interim CEO while the board seeks a replacement. In turn, senior Independent director Pierre Bouchut will stand in as interim chair. David served as interim CEO for over eight months between the departure of Jette Nygaard-Andersen in December 2023 and the arrival of Isaacs on September 2 2024.
Isaacs was formerly president of Scientific Games and chairman of SBTech. His brief tenure provided some reassurance to investors amid complaints about Entain’s expansion strategy. The subsequent implementation of recommendations from the Capital Allocation Committee (CAC) helped bring the company back to growth in the UK and Ireland in Q3 2024.
However, the UK Financial Reporting Council (FRC) announced in January that it had launched an investigation into Entain’s auditor, KPMG, in relation to its audit of Entain’s 2022 accounts. The news rekindled fears of more possible skeletons in the closet after a £585m settlement with HMRC in 2023 related to historic bribery allegations in Turkey.
David said: “Entain is making strong progress in delivering our strategic priorities. We would like to thank Gavin for his contribution. The Board is pleased with the Group’s performance in 2024 and trading so far this year. As announced on 13 January 2025, FY2024 Group EBITDA is expected to be at the top of the £1,040m-£1,090m guidance range.
“The Board and management remain aligned on the Group’s focus on operational excellence and maximising shareholder value. I look forward to leading the business as we continue to accelerate our performance.”
Entain’s full-year results are expected on March 6.
