Flutter Entertainment has announced the departure of Rafi Ashkenazi from its board of directors with immediate effect.

Ashkenazi led The Stars Group as chief executive from March 2016 through to the completion of its acquisition by Flutter in May, and has since served as a non-executive director of Flutter Entertainment. He steps down from the board today.

“I wish to take this opportunity to acknowledge the major contribution of Rafi in creating the exceptional business that is TSG,” said Flutter Entertainment chairman Gary McGann.

“Rafi has made a significant impact on TSG during his seven-year tenure and was instrumental in transforming TSG from a single product operator to a diverse global leader with multiple product offerings. We wish him well for the future.”

Shares in Flutter Entertainment plc. (LSE:FLTR) were trading down 0.92 per cent at 12,464.00 per share in London on the news and publications of the company’s interim results.