The Madrid-based operator Nueva Codere, formerly known as Grupo Codere, has decided to appoint a new non-executive chairman in the wake of a major inner restructuring. The one up to the task is Christopher Bell, a seasoned industry veteran who has served the betting industry for three decades.
Christopher Bell Will Bring In 3 Decades of Experience
The decision was made by the company’s board of directors on January 19 and is pending approval from Codere’s shareholders. The final verdict on the new acquisition will be pronounced on February 7 when a shareholders’ general meeting is set to take place.
Bell’s CV demonstrates a serious dedication to the gambling industry. He has vast experience in the field and has worked for Hilton Group for 15 years. After Hilton Group sold its hotel business and rebranded itself as Ladbrokes in 2006, Bell rose to become its chief executive. He held that position for four years. As he is set to join Codere, Bell commented:
“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.”
Codere’s acquisition of a new non-executive chairman comes in the wake of its business restructuring that took place at the end of 2021. It saw Nueva Codere getting taken over by creditors, which resulted in the company getting transferred to Codere New Topco SA and subsequently divided into four different brands: Codere New Topco, Codere New Holdco, Codere New Midco, and Codere Luxembourg 3.
Bell Will Leave Some of His Positions to Focus on Codere
Bell currently occupies various positions in several gambling companies but has vowed to leave some of them in order to dedicate his time to Nueva Codere. Thus, Bell will be resigning from his position as a senior independent director of Rank Group and chairman of XLMedia.
The veteran spoke on his leave from XLMedia, saying that he is grateful to have worked as its chair for almost eight years. However, he understands that 2022 is a year that will bring some significant changes as the company sets to focus on regulated high-growth markets and thinks this is a convenient time to take his leave. Bell wished everyone in the company the best of luck.
Stuart Simms, the chief executive officer of XLMedia, thanked Bell for his exceptional service as he bid him farewell. Simms said that Bell has been a dedicated chairman and is thankful that he supported XLMedia’s decision to reorient itself towards adopting a more agile approach.