London-listed betting and gaming operator Entain has confirmed the departure of chief executive officer Gavin Isaacs after less than six months in charge.
Following a mutual agreement, Isaacs has stepped down with immediate effect, with Entain’s non-executive chair Stella David again assuming the role of interim CEO until a permanent replacement has been found.
David was previously interim CEO from December 2023 until last September, when Isaacs took charge.
Pierre Bouchut, currently senior independent director, will take over as non-executive chair on an interim basis.
“Entain is making strong progress in delivering our strategic priorities,” said David. “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 last month, Entain expects 2024 group EBITDA to be at the top of the £1,040 million to £1,090 million guidance range.
“The Board and management remain aligned on the group’s focus on operational excellence and maximising shareholder value,” added David. “I look forward to leading the business as we continue to accelerate our performance.”
Entain will provide its full 2024 results on 6 March.
Shares in Entain plc (LSE:ENT) slumped by 9.75 per cent to 669.80 pence per share in London following the announcement Tuesday.