888 Holdings has reported that a consortium of activists who declared a 6.57% stake in the betting firm last week have put themselves forward as a putative new management team.

The Times said it is understood that the consortium has nominated Kenny Alexander, the former chief executive of GVC Holdings, now Entain, for the same job at 888, with Stephen Morana, the former Betfair finance chief and a non-executive at Entain, taking over as finance director.

The mooted reshuffle put forward to Lord Mendelsohn, the William Hill owner’s interim executive chairman, would also involve the Labour peer handing over to Lee Feldman, the erstwhile chairman of GVC.