FanDuel parent said Dan Taylor will succeed Jackson on Oct. 1 as shares fell 13% after a Q2 earnings miss, lower profit outlook and continued U.S. business weakness.
Flutter Entertainment said Chief Executive Peter Jackson will step down and be replaced by Dan Taylor, the company’s president and chief executive of its international division, effective Oct. 1. The FanDuel parent also lowered its profit outlook, said it swung to a loss and reported second-quarter earnings of $0.49 a share versus expectations of $0.60, sending its shares down 13% as investors reacted to continued weakness in its U.S. business.