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Entain CEO Segev to depart for Dazn


Entain is on the hunt for a new chief executive, with Shay Segev handing in his notice after less than a year in the role to become co-CEO of sports streaming platform Dazn.

Segev, the operator’s former chief operating officer who became CEO in July 2020 to replace Kenny Alexander, has a notice period of six months, and will remain in his current role for that period or until a successor is appointed.

Entain’s board noted that having considered succession issues on a regular basis, it has a process “well under way” to find his successor.

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

“Entain has a wealth of talent across its leadership team and the business has never been stronger,’ Gibson continued. “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.”

He added that Segev’s departure would change nothing with respect to the board’s view of MGM Resorts International’s proposal to acquire the operator. That proposal, offering 0.6 MGM Resorts shares for every one in Entain, is still unanimously viewed as significantly undervaluing the business and its prospects, Gibson said.

Segev said he was sad to leave Entain after five years, but said the co-CEO role with Dazn offered him “a very different type of opportunity”.

“Entain is in great shape after the successful launch of our new strategy,” he said. “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.”

He will now join Dazn, the sports streaming business originally part of Perform Group that was spun off as a separate entity in September 2018.

Segev will serve as co-CEO of the business alongside James Rushton, previously the business’ chief revenue officer, who has led the business in an interim capacity since June last year.

Read the full story on iGB.