In a significant announcement from the boardroom of Entain, one of the leading sports betting and gaming groups, it is confirmed that the organization will see a change in its top-level leadership. Barry Gibson, Chair of Entain, has decided to retire from his role and depart from the board by September 2024. This pivotal transition may take place sooner, contingent on the successful appointment of a permanent Chief Executive Officer (CEO), a process which is currently underway and, as stated by Entain, advancing favorably.
After four impactful years at the helm, Barry Gibson has voiced his reflections on his tenure. “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,” Gibson shared. Under his stewardship, Entain, known for its consumer-facing brands such as Ladbrokes and Coral, has experienced a transformative phase not only in rebranding but also in strategic growth and addressing regulatory challenges.
Since Gibson joined the board in November 2019, and especially after stepping in as chair in February 2020, Entain has seen remarkable growth. The direction under his leadership has led to significant achievements, including an over 50% increase in group EBITDA to £1bn in 2023. Furthermore, the US venture BetMGM has burgeoned into a $2bn enterprise, contributing to Entain’s strong market position.
The retirement of Gibson will bring Stella David, who has been serving as a non-executive director since March 2021 and as interim CEO since last December, into the spotlight as Gibson’s recommended successor. David, who has already displayed her executive capabilities through her role as interim CEO, is set to step into her new responsibility with the full confidence of the board and a robust plan for future growth.
Commenting on her forthcoming role, David expressed her gratitude towards Gibson for his guidance and support. “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,” she remarked. And with her focus firmly on her interim CEO duties, David conveyed her commitment to drive forward the operational strategy of Entain.
The potential early leave of Gibson is aligned with a possible earlier appointing of a permanent CEO for Entain. A clear indicator of proper succession planning, the selection of David as Gibson’s successor reflects the strategic intent of the board to ensure leadership continuity and to uphold momentum in Entain’s growth trajectory.
Gibson’s tenure at Entain will be remembered as a time of significant evolution for the company. This period witnessed Entain’s rebranding and the resolution of a probing investigation concerning its former Turkish operations. These accomplishments under Gibson have positioned Entain for continued success in the ever-competitive landscape of sports betting and gaming.
As Entain navigates towards this leadership transition, the industry will undoubtedly watch with keen interest. The roadmap for the future appears to be laid out with great promise as Stella David prepares to carry on the legacy of strong leadership at Entain. While Gibson’s retirement marks the end of an era, it also signals the dawn of a new chapter for the company, assured by the board’s unyielding diligence in handling the process.
More information on this leadership change within Entain will be unveiled as the company progresses through this transition period and the search for a new CEO nears completion.
