Flutter Entertainment is undergoing leadership changes. The company announced that CEO Peter Jackson has decided to step down after eight years at the helm. His last working day will be September 30.
Dan Taylor, the president of the company's international division, is reported to replace Jackson.
The news of Jackson's resignation came two days after Flutter Entertainment's shares stopped trading on the London Stock Exchange. They are now available only on the New York Stock Exchange. Over the past year, the company's shares have decreased by 70%, and after the announcement, they fell by an additional 14%.
Under Jackson's leadership, Flutter Entertainment acquired FanDuel in May 2018, and soon after underwent a rebranding from its previous name, Paddy Power Betfair. The company continued its expansion by purchasing The Stars Group, the operator of PokerStars, in 2020.