Entain has announced that its long-standing group CFO Rob Wood is to step down next year in March. Wood will be succeeded by Michael Snape, who has had long-standing finance career spanning various retail giants.
Wood will officially exit as CFO and an executive director of the board on 6 March next year. He will remain with Entain until June 2026 to ensure an orderly transition of responsibilities.
Wood joined Entain in January of 2012 as UK retail CFO, serving in this position for almost seven years. From here, he became group CFO in October 2018 and also took on the role of deputy CEO in January 2021.
During his time as group CFO, Wood was part of a management team that oversaw a series of major developments. These included the rebrand to Entain in late 2020 and numerous changes in leadership, such as the arrivals of Jette Nygaard-Andersen and Stella David as CEO.
“It has been a privilege and a pleasure to be part of Entain’s growth over the last 13 years,” Wood said. “I am proud of the transformation the group has undergone during that time.
“With Entain’s and BetMGM pathway to long term success well established, now is the right time for me to pass the reins on, and I am confident that the Group has an extremely bright future.”
CEO Stella David said of Wood’s tenure: “On behalf of the board and everyone at Entain, I would like to express my sincere thanks to Rob for the tremendous contribution he has made to the group. His expertise and dedication have helped us to successfully transform into the global business we are today. We wish him all the very best for the next chapter of his career.”
Snape takes over at Entain
Snape will arrive in February 2026 as group CFO designate. He will bring with him over two decades of experience in senior finance and leadership roles.
Snape will join Entain from International Distribution Services (IDS), where he is currently group CFO. He recently led the de-listing and sale of the global logistics company.
Prior to this, Snape was CFO of Boots, No7 Beauty & International, part of the Walgreens Boots Alliance. In addition, he had spells as international CFO of Tesco and worked with Waitrose, part of the John Lewis Partnership, and J Sainsburys.
“I am thrilled to be joining Entain at such an exciting time in its growth and transformation story,” Snape said. “I look forward to working with Stella, the Board and the leadership team to deliver value for all Entain’s stakeholders.”
David added: “I am delighted to be welcoming Michael to Entain. His seasoned leadership, financial and operational expertise, and international experience will be invaluable as we continue to execute our strategic priorities.”
Entain on track to hit full-year targets
Meanwhile, Entain issued a short statement on its performance in the year-to-date. The group said it remains “in line” with market expectations for FY25, with its full-year results due to be published on 5 March next year.
As of 10 December, EBITDA at Entain was at £1.14 billion ($1.52 billion). During a Q3 trading update, Entain said annual EBITDA would range between £1.10 billion and £1.15 billion.
Other key figures from the Q3 update included total group net gaming revenue increasing 6% year-on-year, or 7% on a constant currency (CC) basis. Excluding the US, net gaming revenue was up 4%, or 5% in respect of CC.
Looking further ahead, Entain is one of many operators that will be hit by increased gambling taxes in the UK. Remote gaming duty will rise from 21% to 40%, while a new general betting duty for remote betting will also be introduced in April 2027 at 25%, up from 15%.
David said she was “deeply disappointed” with the decision, saying it poses risks to the industry.
“Disproportionately increasing gambling taxes will not only have a detrimental impact on our industry but also heighten the risk for customers,” David said. “As seen in other countries, punitive tax increases often lead to lower tax revenues overall, while also driving players to illegal, unregulated operators with no player protections.”
Rob Wood’s replacement Michael Snape recently led the de-listing and sale of global logistics company International Distribution Services.