Entain Australia CFO and New Zealand MD step down
Deputy CEO and finance chief, Lachlan Fitt, and managing director, Cameron Rodger, quit a week after Gavin Issacs vacated group CEO position after five months in charge
Entain Australia and New Zealand’s deputy CEO and CFO, Lachlan Fitt, and Entain New Zealand’s managing director, Cameron Rodger, have both resigned in a shakeup for the FTSE 100 operator in the Southern Hemisphere.
The exits come a week after group CEO Gavin Issacs left immediately after only five months in charge. Chair Stella David has assumed the interim CEO role once again.
As per the New Zealand Herald, deputy CFO Sam Moncur will replace Fitt as CFO.
Fitt had joined Entain in November 2018 as an integration director and was previously with Tabcorp from July 2014 to August 2018.
During his tenure at Entain Australia, he also served as corporate development director for eight months, between March 2019 and October 2019, before stepping into the CFO role in November 2019. Fitt was then named deputy CEO in June 2023.
Speaking to the New Zealand Herald, Fitt confirmed he would not be leaving the racing sector and will announce his next steps in due course.
Fitt said: “After a decade as an international wagering executive, now is the right time to move on to my next chapter. While I am resigning from Entain, I am not resigning from New Zealand.
“Racing in New Zealand still has a tremendous amount of opportunity and it is critical that the industry focus on improving its efficiency in order to achieve sustainable long-term funding.
“I hope to shortly announce what I will do next, there are a number of opportunities that combine my passion for racing and bloodstock and the global opportunities both present.”
New Zealand MD Rodger joined Entain in June 2023 after almost three years with TAB NZ, where he held head of legal and chief commercial officer positions.
He also spent seven years with the New Zealand Racing Board from November 2013 to September 2020, serving as a commercial analyst and then legal counsel, before a promotion to senior legal counsel.
Like Fitt, Rodger will also be staying in the racing industry following his decision to leave Entain.
He said: “After more than a decade in the wagering industry and two incredible years leading Entain New Zealand, the time feels right to turn the page and take on a new challenge.
“The progress made in modernising the New Zealand wagering landscape has been extraordinary and I leave knowing the business is in great shape.
“While my time in wagering is coming to an end by commitment to New Zealand racing remains. There are still big challenges ahead in the industry and I want to play a role in ensuring it thrives for the long term.”
In Australia, Entain runs the Ladbrokes and Neds brands. In December, the AUSTRAC commenced civil penalty proceedings against Entain over alleged “serious and systemic noncompliance” with AML and counter-terrorism financing laws.
In 2023, across the Tasman Sea in New Zealand, Entain secured a 25-year partnership with the New Zealand government to run the TAB NZ brand.
Entain expects the New Zealand sports betting market to grow by around 35% through to 2028, with the operator valuing it at NZ$600m in June 2023.
The business also operates the betcha brand in New Zealand, which was launched in August 2024 to sit alongside TAB NZ.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.