Entain seeks new CEO as Segev departs to DAZN

Entain seeks new CEO as Segev departs to DAZN

Entain Plc has issued a notice to investors, communicating Shay Segev’s intentions to resign as Group CEO of the FTSE100 online gambling group.

The statement disclosed that Segev had been recruited by DAZN to serve as ‘joint-chief executive’ of the global sports OTT platform.

“Shay has a notice period of six months and will remain in his current role for that period or until a successor is in place. The Board, having considered succession issues on a regular basis, has a process well underway to find his successor.” Entain governance detailed in its statement.

Segev the former Group COO of Entain, took charge of corporate leadership last July replacing Kenneth Alexander who ended his 13-year CEO tenure.

On his departure, Segev remarked that he had been ‘offered a role which offers me a very different type of opportunity’. The executive maintained that his decision was not influenced by recent takeover interest of in the group by MGM Resorts International.

Entain Chairman, Barry Gibson accepted Segev’s departure, reiterating the board’s view of MGM recent proposal as significantly undervaluing the company and its prospects’.

“We are sorry that Shay has decided to leave us but recognise that we cannot match the rewards that he has been promised.” Gibson commented.

“Entain has a wealth of talent across its leadership team and the business has never been stronger.  The Company has delivered 20 quarters of double-digit online growth, and our future prospects have been substantially enhanced by our new strategy, which we set out in November.  We have built a truly global business which is entirely based on our own technology and offers our best-in-class entertainment services in more than 20 nationally-licensed countries.”

Source: SBC News