Dec 11 (Reuters) - British gambling firm Entain on Thursday said finance chief Rob Wood will step down from his role after 13 years with the company and be replaced with Michael Snape next year. (
Entain Announces CFO Change: Rob Wood to Exit, Snape to Join
Dec 11 (Reuters) - Britain's Entain on Thursday said Rob Wood will step down from his roles as finance chief and deputy CEO after 13 years with the gambling firm and be replaced by International Distribution Services (IDS) executive Michael Snape next year.
Snape, currently the group CFO at IDS, recently led its de-listing and sale to Czech billionaire Daniel Kretinsky. He brings over two decades of finance leadership experience from large international retailers such as Walgreens Boots Alliance, Tesco and Waitrose.
The leadership change comes weeks after the company disclosed an about 200 million pounds ($267.28 million) after the UK hiked taxes on online gaming and sports betting, putting the whole industry under pressure.
Wood was appointed the deputy CFO in 2018 and assumed the role permanently the following year after former finance chief Paul Bowtell announced his decision to step down from the position.
Entain, which owns the Ladbrokes, Coral and Partypoker brands, also said year to date trading continues to be in line with market expectations of 1.14 billion pounds in annual core profit for FY25.
($1 = 0.7483 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala)
