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    Home > Finance > Ladbrokes owner Entain says CFO Rob Wood to step down, IDS's Snape to take over
    Finance

    Ladbrokes owner Entain says CFO Rob Wood to step down, IDS's Snape to take over

    Published by Global Banking & Finance Review®

    Posted on December 11, 2025

    2 min read

    Last updated: January 20, 2026

    Ladbrokes owner Entain says CFO Rob Wood to step down, IDS's Snape to take over - Finance news and analysis from Global Banking & Finance Review
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    Tags:Appointmentmanagementfinancial managementcorporate governancefinancial services

    Quick Summary

    Entain's CFO Rob Wood resigns, with IDS's Michael Snape taking over amid financial pressures from UK tax hikes on gambling.

    Entain Announces CFO Change: Rob Wood to Exit, Snape to Join

    Dec ‌11 (Reuters) - Britain's Entain on Thursday said Rob ‍Wood will ‌step down from his roles as finance chief ⁠and deputy CEO ‌after 13 years with the gambling firm and be replaced by International Distribution Services (IDS) executive Michael Snape ⁠next year.

    Snape, currently the group CFO at IDS, recently led its ​de-listing and sale to Czech billionaire ‌Daniel Kretinsky. He ⁠brings over two decades of finance leadership experience from large international retailers such as Walgreens Boots ​Alliance, Tesco and Waitrose.

    The leadership change comes weeks after the company disclosed an about 200 million pounds ($267.28 million) after the UK hiked taxes ​on ‍online gaming and sports ​betting, putting the whole industry under pressure.

    Wood was appointed the deputy CFO in 2018 and assumed the role permanently the following year after former finance chief Paul Bowtell announced his decision ⁠to step down from the position. 

    Entain, which owns the Ladbrokes, Coral and ​Partypoker brands, also said year to date trading continues to be in line with market expectations of 1.14 billion pounds in ‌annual core profit for FY25.

    ($1 = 0.7483 pounds)

    (Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala)

    Key Takeaways

    • •Rob Wood to step down as Entain CFO and deputy CEO.
    • •Michael Snape from IDS will replace Rob Wood next year.
    • •Snape has extensive finance leadership experience.
    • •Entain faces financial pressure from UK tax hikes.
    • •Entain's trading aligns with market expectations.

    Frequently Asked Questions about Ladbrokes owner Entain says CFO Rob Wood to step down, IDS's Snape to take over

    1What is a CFO?

    A CFO, or Chief Financial Officer, is a senior executive responsible for managing the financial actions of a company, including financial planning, risk management, record-keeping, and financial reporting.

    2What is a financial report?

    A financial report is a formal record of the financial activities and position of a business, person, or other entity, providing information about the financial performance and financial position.

    3What is a leadership change?

    A leadership change occurs when there is a transition in the management or executive team of an organization, often involving the appointment of new leaders to guide the company.

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