Entain appoints Ronald Kramer as Director; Interim CEO purchases shares in company

It’s been a productive week already at Entain, with the latest meeting revealing a new Independent Non-Executive Director and new share purchases.

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Entain has appointed Ronald Kramer as an Independent Non-Executive Director with immediate effect.

Alongside his appointment at Entain, Kramer is the Chairman and CEO of Griffon Corporation, a management and holding company.

He also serves on the Board of Douglas Elliman, a residential brokerage company.

Prior to this, Kramer joined Wynn Resorts in 2002 as the President and Director, before leaving in 2008.

Barry Gibson, Entain Chairman, 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."

As part of this position, Kramer will receive an annual payment of £95,000 ($121,318.80).

In other Entain news, the company also announced the purchase of shares by Stella David, Entain Interim CEO, and her spouse.

Prior to the transaction, David had 112,186 shares in her possession.

On 11 March, she purchased 65,000 ordinary shares of €0.01 ($0.011) each, for a total of 177,186.

Her husband, Peter David, also acquired his first shares in the company.

For the same share price and on the same date, her husband purchased 130,000 shares.

The purchase price (pence per share) was 735.95 and 727.00 each respectively.

When Entain released its FY2023 a few days ago, the operator has to report its £936.5m loss alongside it. 

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