Ex-Rank chief Birch in discussions to lead Entain, the company that owns Ladbrokes | Business News

Henry Birch, the former CEO of Rank Group, is in the running to become the next chief executive of Entain, the FTSE-100 owner of Ladbrokes. Sky News has learned that Birch is among the top contenders to replace Jette Nygaard-Andersen as the permanent CEO of the gambling group.

Entain has been facing challenges with boardroom upheaval and regulatory difficulties in various international markets, leading to a significant drop in its stock value over the past year. Despite these challenges, sources close to the company have confirmed that Birch is a serious contender for the position, although other candidates are also being considered.

Birch, who previously served as the CEO of Very Group, has extensive experience in the gambling industry, having held leadership roles at William Hill Online, Rank Group, Leisure & Gaming plc, and BettingCorp. During his tenure at Very Group, the online retailer achieved record-breaking annual sales of over £2bn.

Investors in Entain have been urging the board to appoint a new CEO with substantial gambling industry experience to address the company’s strategic and regulatory challenges. Previous candidates, including former bosses of bookies Coral and Skybet, have declined offers to lead the company.

Entain’s chairman, Barry Gibson, is set to retire later this year, with interim chair Stella David taking over. The company has also hired bankers to sell non-core operations, including PartyPoker and potentially BetCity. Despite facing regulatory issues and governance criticism, Entain remains a key player in the industry, owning Ladbrokes, Coral, and a stake in BetMGM.

As the recruitment process for the new CEO continues, industry analysts anticipate further developments in Entain’s leadership and strategic direction. Shares in the company closed at 778.8p on Friday, with a market capitalization of £4.98bn. Entain and Birch have not provided any comments on the potential appointment.