Entain CEO Resigns Amid £615M Bribery Scandal

Jette Nygaard-Andersen, the CEO of Entain, has resigned with immediate effect. Her departure comes after Entain agreed to pay a £615 million settlement following a bribery case in Turkey. Nygaard-Andersen's tenure saw a significant drop in Entain's share price, which has fallen by more than a third.

Entain's share price saw a 5% increase following the announcement of Nygaard-Andersen's resignation. Stella David, a non-executive director, has been appointed as interim CEO. Nygaard-Andersen doubled her shareholding in Entain last month, seemingly demonstrating confidence in her ability to turn the company's fortunes around.

Entain's shareholders have seen their investment lose 47% of its value in two years. The settlement includes a £585 million penalty, a £20 million charitable donation, and a £10 million contribution towards the costs incurred by HMRC and the Crown Prosecution Service. Nygaard-Andersen stated that her time at Entain was rewarding and challenging in equal measure.