The established U.S. market leader in online sports betting is making a major leadership change, as FanDuel CEO Amy Howe left the company Wednesday with a sizable severance package.

FanDuel President Christian Genetski is set to take over as the new CEO of the Flutter-owned property following Howe's departure. The transition comes as Flutter announced the change in a recent news release, causing a 6% dip in the company's stock.