Gavin Isaacs Steps Down as Entain CEO After Just Five Months
Gavin Isaacs has resigned as CEO of Entain with immediate effect, just five months after taking on the role. The decision, described as “mutual,” has led to a nearly 10% drop in the company’s stock price and increased uncertainty surrounding its leadership strategy.
A Short and Unsettled Tenure
Isaacs took over as CEO on September 1, 2024, with the mission of restoring growth and delivering value to shareholders following a challenging 2023.
His main focus was on streamlining Entain’s platform and strengthening its position in the U.S. market. Despite the company’s financial performance aligning with expectations for 2024, no clear reasons were given for his sudden departure, leading analysts to speculate about potential internal strategic disagreements.
The market responded negatively to the announcement, with Entain’s shares dropping nearly 10%. Stella David, the company’s non-executive chair, will take over as interim CEO, her second time in the role, having previously served for nine months before Isaacs’ appointment. Pierre Bouchut, the senior independent director, has been named interim non-executive chairman.
Regulatory Pressure Mounts on Entain
Isaacs’ exit comes at a time when Entain is facing increased regulatory scrutiny. The UK’s Financial Reporting Council (FRC) has launched an investigation into Entain’s 2022 audit conducted by KPMG.
Meanwhile, Australia’s financial crime regulator Austrac has initiated civil proceedings against the company over alleged failures to comply with anti-money laundering and counter-terrorism financing laws.
Despite the leadership shake-up, Entain has reaffirmed its adjusted EBITDA guidance for 2024, projecting results at the upper end of the £1.04–1.09 billion range.
The company has also expressed confidence in its 2025 market outlook. Investors will get a clearer picture when Entain releases its full-year financial results and business update on March 6, 2025.
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