Corvex Management, an activist hedge fund, has acquired a 4.4% stake in Entain, expressing dissatisfaction with the company's performance. This dissatisfaction led to the immediate departure of Entain's CEO, Jette Nygaard-Andersen. Following the CEO's departure, Entain's shares surged by over 20%. In response to Corvex's demands, Entain has announced a boardroom reshuffle. The next CEO of Entain will face significant challenges, as highlighted by Breakingviews.
Entain has announced a boardroom reshuffle in the wake of last week’s departure of CEO Jette Nygaard-Andersen https://t.co/2JC8OdErhi https://t.co/tkcUYSIFCB
Entain shares jump more than 20% since CEO’s sudden departure https://t.co/1hxyd1NTAK https://t.co/TU97wLfeDx
Activist hedge fund Corvex Management has called for further changes at Entain after acquiring a 4.4% stake in the gambling giant https://t.co/NduY6OGaoT https://t.co/mxYen7aaOL
Entain CEO Steps Down Under Shareholder Pressure @ByMatthewWaters https://t.co/LNOWBsPz2f
US fund Corvex urges Entain to turn around ‘unacceptable’ performance, via @mroliverbarnes @HarrietAgnew @FT #HedgeFunds #ActivistInvestor https://t.co/hPiiIP4wqM
Corvex Management describes Entain’s recent performance as “unacceptable” as it takes 4.4% stake https://t.co/IOKUeY2ZBD https://t.co/VNI5gIlxtl
From Breakingviews - Entain’s next CEO will have to roll the dice https://t.co/yaRGlrUXHd https://t.co/yaRGlrUXHd
Entain CEO steps down with immediate effect https://t.co/WFGI3Agj1V https://t.co/otwqeMFtl9