FanDuel CEO Amy Howe has been ousted from her post after five years with the company, a person familiar with the matter told CNBC.
FanDuel President Christian Genetzky will lead the company, according to the people, who requested anonymity to discuss internal matters.
Howe, the head of one of the nation’s largest sportsbooks, has been leading the sports betting company since 2021. She has overseen FanDuel during a period of dramatic expansion of sports gambling and other forms of online gambling in multiple states.
FanDuel parent company stock flutter Shares fell sharply in afternoon trading on Wednesday, closing 4% lower. Shares have been under pressure, falling about 60% in the past year, as investors sold gaming stocks more broadly amid sudden fears of competition from prediction markets and worries about consumer spending due to rising gas prices and inflation concerns. shares of draft kings It has decreased by 30% over the same period.
In February, Flutter released 2026 guidance that fell short of Wall Street expectations.
Flutter CEO Peter Jackson told CNBC after the earnings call that he wants to invest $300 million into FanDuel Predicts, the company’s in-house forecasting platform, “which will lower our numbers for 2026.”
“While our fourth quarter results softened slightly, we are reflecting that in the guidance we are developing for this year,” he said.
Jackson said the company should have invested more in marketing and promotion in a competitive environment, but there was a lack of stories around NFL players that would encourage gamblers to engage.
Howe is one of the few female leaders in the industry and the only female CEO of a major gambling company.
In a farewell message to employees obtained by CNBC, Howe urged her female colleagues to “continue to support each other and continue to raise the bar.” He also advised employees to “speak up. You’re all here for a reason.”
A veteran of Live Nation and McKinsey, Howe brings deep experience leading companies in transition, especially those under public scrutiny.
Howe has taken a leadership role in the industry when it comes to responsible gaming, refusing to advertise in college stadiums or make name, image and likeness (NIL) deals with college athletes.
She was also named a 2026 CNBC Changemaker. Howe told attendees at a CNBC Changemakers event in April that he “cares deeply” about FanDuel.
“We’ve all worked with leaders who have low integrity and who only care about themselves,” Howe said at the time. “For me, the ability to be the face of a company or a sector and still lead in an authentic way is very powerful at the age of 54.”
