Chairman Of Entain Barry Gibson To Step Down

Barry Gibson to step down

Barry Gibson, the current Chair of Entain, has announced his decision to step down from his position by the end of September. This marks a significant leadership transition for the company.

 As the Chair of Entain, Barry Gibson has played a crucial role in the company’s success, guiding its strategic direction and overseeing its operations. However, Gibson’s announcement to step down from his position has sparked curiosity and speculation about the reasons behind his departure and the implications it may have for Entain.

During his tenure as Chair of Entain, he has led the company through significant milestones and achievements. Gibson’s strategic vision and guidance have helped Entain expand its global presence.

With the departure of Barry Gibson, Entain is now on the lookout for a new Chair who can build upon the company’s success and lead it into the future. The process of finding a suitable candidate will likely involve a thorough search and selection process, ensuring that the individual possesses the necessary skills, experience, and vision to guide Entain through its next phase of growth.

Gibson’s departure and the subsequent appointment of a new Chair will undoubtedly have an impact on Entain and its stakeholders. The transition in leadership may bring about a period of adjustment and adaptation as the new Chair takes the helm and implements their own strategic vision.

FULL ANNOUNCEMENT FROM ENTAIN:

Entain announces that Barry Gibson has given notice that he wishes to retire from his role as Chair and from the Board. Barry will step down by the end of September 2024, and potentially earlier depending on the timing of the appointment of a permanent CEO. The search for a permanent CEO is ongoing and is progressing well.

A process to identify his replacement has been part of the Board’s ongoing succession planning, and it is pleased to announce that Stella David will become Chair on Barry’s retirement. Stella was a non-executive director and Senior Independent Director from 4 March 2021 and became interim CEO of Entain in December 2023.

Barry was appointed to the Board of Entain in November 2019 and became Chair in February 2020. During his time as Chair, Barry has played an integral role in the transformation from GVC to Entain, which has included a significant improvement in the quality of the Group’s operations, revenues, governance processes, and procedures. He has also overseen the renewal of the Board, the Group’s focus on operating only in regulated or regulating markets, and the resolution of the HMRC investigation into the Group’s legacy Turkish facing operations. During his tenure, the Group has grown its EBITDA by over 50% to approximately £1bn in 2023, and its US joint venture, BetMGM, has gone from a start-up to being a $2bn revenue business with a strong market position and outstanding growth prospects.

Pierre Bouchut, Senior Independent Director, commented: “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. 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.”

Barry Gibson, Chairman commented: “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.”

Stella David, Interim CEO, commented: “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.”