Ex-Entain CEO: Company is “fundamentally better and stronger” than ever before
Jette Nygaard-Andersen says “transformational years” under her stewardship altered the FTSE 100 operator for the better
Former Entain CEO Jette Nygaard-Andersen has said the business is “fundamentally better and stronger” than it has ever been.
Taking to LinkedIn, the Dane gave her first personal comments on the business since making her decision to resign with immediate effect in December.
Nygaard-Andersen’s resignation came amid ongoing activist investor pressure over M&A decisions and Entain’s floundering share price, with non-executive director Stella David now running the company in the interim.
The former boss’ exit also came following the conclusion of an HMRC investigation into historical allegations of bribery at a Turkey-facing business Entain previously owned until 2017.
In her comments, Nygaard-Andersen said walking away was not “easy” as she doubled down on the transformation of the business from its GVC past.
She wrote: “Through a multitude of twists, turns and challenges, we’ve transformed the business from the GVC of old to one with the highest standards of governance, compliance, player safety, a new effective strategy setting the company up for further growth in all markets and an excellent quality of earnings.
“Over the past four years, we have dramatically shifted the company to be a responsible operator, a reputable employer, strategically put the customer front and centre of business operations, worked on transforming the technology to make it future fit, diversified the portfolio and so much more.”
The former CEO also added that innovation in the industry was needed now more than ever.
She said: “They say what doesn’t kill you makes you stronger. There is enormous opportunity to innovate in the gaming industry. What has worked in the past will not always work in the present and this industry needs strategic thinkers and innovators that are passionate about doing the right thing for customers.
“That said, I am grateful that I have met and worked with some brilliant and talented individuals over the last four years that live and breathe this mindset.”
Nygaard-Anderson confirmed she would be taking a break to “decompress” before weighing up her next career move.
Last week, Entain added Eminence Capital CEO Ricky Sandler to its board as a non-executive director, marking a significant step change.
Last summer, Eminence Capital slammed Nygaard-Andersen and Entain for its “tone deaf” approach to M&A.