Entain has announced changes to its board to improve its effectiveness, boost “people engagement,” and maximize corporate sustainability efforts.
The shift involves the formation of two new committees to help the company reach its corporate social responsibility (CSR) goals.
The move from Entain (Entain PLC 796,80 -1,39%) is the latest effort from the global sports betting, gaming, and interactive entertainment company to lead the gambling industry in sustainability and social responsibility.
In the US, Entain is perhaps best known for owning half of the market-leading online casino operator, BetMGM. MGM Resorts International owns the other half.
Rearrangement Prioritizes Environmental, Social, Governance Goals
According to a media release from early May, the two committees will focus on people, governance, sustainability, and compliance.
Entirely new to the board committee lineup, the people and governance committee will be chaired by Stella David, a senior independent non-executive director. Board Chairman Barry Gibson and designated workforce director Virginia McDowell have joined David on the committee.
Notably, the board’s nomination committee has been disbanded, and its responsibilities have been incorporated into the new committee’s tasks.
Otherwise, People and Governance will:
- Review workforce policies to ensure consistency with the company’s purpose, strategy, and values
- Lead the process for board appointments. Ensure effective succession plans are in place for the board and leadership team, keeping in mind the benefits of diversity
- Ensure procedures are in place for the training and evaluation of directors
- Review corporate governance developments in law, regulation, and business practice
McDowell appears again as chairwoman of the sustainability and compliance committee, with non-executive directors David Satz and Rahul Welde in tow.
However, unlike people and governance, this committee isn’t new; it just got a rebrand. Previously, the sustainability and compliance committee was known as environmental, social, and governance (ESG). As such, David also stepped down from the renamed group, presumably to focus on her other committee work.
Together, members of the Sustainability and Compliance Committee will:
- Offer oversight of Entain’s sustainability and compliance program
- Effectively oversee Entain’s ongoing relationships and engagement with stakeholders
- Review progress against internal key performance indicators and external sustainability and compliance index results
Sustainability, Diversity Focus on ‘The Right Thing to Do’
According to Gibson, Entain’s people are a significant factor in the company’s success.
In the release, he said:
The outstanding quality of Entain’s people around the world is a key part of our success.
These changes will bring the Board even closer to the extraordinary talent and diversity that we are fortunate to have across our business. They are also yet another example of our relentless focus on sustainability, and of our commitment to being a best-in-class, responsible operator with leading levels of corporate governance running through all aspects of our business.
When it comes to its ESG goals, Entain has done more than just talk.
In late 2021, Entain launched EnTrain, a global initiative to increase technology access and boost diversity. The program aims to support 1 million people directly or indirectly by 2030.
In 2022, the company reported Arc, its award-winning safer gaming initiative, is in use in 22 global markets. It also announced Drive for Diversity, a partnership with McLaren Racing to support women in tech.
Additionally, the group committed to going carbon net zero by 2030. And the Entain Foundation supports safer gambling, diversity, local sports, and community projects.
Lastly, Entain shares its progress annually in social impact reports.
In 2022, Entain CEO Jette Nygaard-Andersen said in a press release:
I am incredibly proud of the lead we have taken in so many areas of ESG.
We are doing so because it is the right thing to do for our customers, for our communities, and for our colleagues. It is also the best way to ensure the long-term success and sustainability of our business.