Entain has announced the planned departure of chairman Barry Gibson, who will step down from his role by no later than September 2024.

Gibson has informed the company that he plans to retire as chair of the board of directors after four years in the role, with the exact timing of his departure dependent on the timing of the appointment of a permanent chief executive officer.

Entain’s interim CEO, Stella David, will replace Gibson as chair.

“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,” said David. 

“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.”

The company said Thursday that the search for a permanent CEO, which began in December after the departure of Jette Nygaard-Andersen, is ongoing and progressing well.

“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,” said Gibson.

“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.”

Shares in Entain plc. (LSE:ENT) were trading 1.40 per cent higher at 769.80 pence per share in London Thursday morning.