Ladbrokes owner Entain said on Monday its Chief Executive Officer Shay Segev was leaving the gambling firm after just seven months in the role, a surprise move after the company last week rejected an $11 billion approach from MGM Resorts International.

Segev, who will remain in his current role for six months or until a successor is in place, will join global sports streaming platform DAZN as co-CEO. He said MGM’s approach had no bearing on his decision to leave.

Entain, shares of which fell 1.4% to 1,455 pence in early trade, reiterated that MGM’s proposal of 1,383 pence per share significantly undervalued the company. It has asked MGM for more information on the strategic rationale for a combination.