A day after the bookmaker's chief executive Jette Nygaard-Andersen resigned with immediate effect, New York-based Corvex Management put out a statement confirming it has built up a 4.4% stake and calling for "further change" as it described the group's recent performance as unacceptable. The hedge fund, which was founded by Keith Meister, a protégé of billionaire activist investor Carl Icahn, said it believes Entain is at a critical juncture. It plans to undertake "constructive" and "helpful" engagement with chairman Barry Gibson and interim CEO Stella David and suggested it was suited to providing this as a "well-informed shareholder with substantial industry and company-specific experience and expertise".