The Board of Directors of Nueva Codere has agreed on the proposal for appointing of Christopher Bell as an independent Director, acting as Non-Executive Chairman of the Group. His appointment is subject to the approval of the shareholders’ general meeting of the new company, called for February 7th, at which the Group will resolve the construction of its Board of Directors, which will promote the business plan for the next stage of the company’s development.
Bell is currently Non-Executive Chair of Team17 Group, OnTheMarket and a Non-Executive Director of The Royal Airforce Charitable Trust. He will step back from his roles at XLMedia, where he is Chair, and Rank Group, where he is a senior Independent Director, in order to devote the time needed to his role at Codere.
In his new position, he will bring his extensive senior Board skills alongside a deep knowledge and extensive experience in the gambling and sports betting industry, adding high value in this new stage of the company. For nearly two decades, Bell served at Hilton Group/Ladbrokes, a company he joined in 1991, becoming part of its Board of Directors from 2001 to 2006, when he then acceded to the position of CEO of Ladbrokes, a FTSE 100 company, a role he performed until 2010.
The restructuring of Codere Group has involved the creation of four companies in Luxembourg, called Codere New Topco SA, Codere New Midco Sàrl, Codere New Holdco SA and Codere Luxembourg Sàrl. This new parent structure is called Nueva Codere.
Commenting on his new role, Christopher Bell said: “Codere, has demonstrated over the past 40 years its fundamental strength, versatility and leadership. It is exciting to be a part of this project and promote this new stage that the company has initiated, in its way back to a growth path and consolidation as a leading multinational in the private gambling industry. I am truly honoured for the trust placed in me and committed to the creation of value after this difficult period. The company has a management team and talent that will undoubtedly encourage its promising potential.”