Entain CEO Shay Segev to Depart for DAZN
The CEO of Entain (LON: ENT), Shay Segev, has announced that he is to step down from his position after less than a year in order to become the co-CEO of DAZN, a sports streaming platform.
Segev was formerly Entain’s COO, and he replaced Kenny Alexander as CEO in July 2020. He has a notice period of six months during which he will remain as CEO unless a successor is found. The company board have said that the process to find a replacement is already “well under way.”
We are sorry that Shay has decided to leave us but recognise that we cannot match the rewards that he has been promised. 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.
Gibson also commented that Segev’s decision to leave would not change the board’s opinion of MGM’s recently proposal to acquire the company. According to Segev, the board still considers the offer to vastly undervalue the company.
Segev has said that he is sad to be leaving the company after five years, but he described the co-CEO opportunity at DAZN as “a very different type of opportunity.” Nonetheless, he promised to do all he can to continue to support the company.
Entain is in great shape after the successful launch of our new strategy. Entain has a great team of leaders and an exciting future ahead through its growth and sustainability strategy, and I will do all I can to continue to support the company.
The executive chairman at DAZN, John Skipper, described the appointment of Segev as “an important moment” as the company prepares for further growth. Segev will be co-CEO with James Rushton, who was previously the chief revenue officer.
Skipper added, “In Shay, we’re adding depth and fresh expertise to the team. He is recognised as one of the leading figures in online gaming and brings vast technology and operations experience to the role as well as an impressive track record in digital transformation.”