Entain appoints former Wynn Resorts president to board of directors
Ronald Kramer joins firm as interim CEO Stella David and CFO Robert Wood awarded 846,067 shares as part of long-term incentive plan
Entain has appointed former Wynn Resorts president Ronald Kramer as an independent non-executive director to its board as the firm looks to continue to grow in the US.
Kramer was Wynn Resorts’ president and director between 2002 and 2008. Following his departure, he become chairman and CEO of building materials firm Griffon Corporation – a role he still holds.
While with Wynn Resorts, Kramer helped take the firm public, and has extensive experience in M&A and finance having previously worked with as a managing director with investment banking firm Dresdner Kleinwort Wasserstein from 1999 to 2001.
Entain chair Barry Gibson praised the appointment and commented on Kramer’s knowledge of the US gambling industry.
Gibson said: “I am delighted to announce the appointment of Ron to the board. He is a high-calibre individual with deep knowledge and expertise of the US gaming industry.
“I am confident that his appointment will add significant value to the board and complement our existing board dynamics as we continue to deliver our strategy of growth and focus on shareholder value.”
In addition to the appointment, Entain has jointly awarded a total of 846,067 shares to interim CEO Stella David and CFO Robert Wood under its long-term incentive plan (LTIP).
David, who replaced former CEO Jette Nygaard-Anderson after her departure in December, was given 526,626 shares, valued at €0.01 per share, while Wood was handed 307,202 shares at the same value.
The LTIP share awards will vest on 11 March 2027, subject to continuous employment and “the satisfaction of the relative total shareholder return performance conditions” as set by Entain’s remuneration committee.
Wood was also awarded a further 12,239 shares as part of his 2023 annual bonus.
David then acquired a further 65,000 shares at a price of 736p, while her husband, Peter David, bought 130,000 shares at a price point of 727p.
As part of Entain’s remuneration policy, 50% of the executive directors’ annual bonus is deferred in shares.
David and Wood recently sat down with EGR to discuss the firm getting back to basics following the release of its 2023 full-year results.
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