TIDM888
RNS Number : 0268H
888 Holdings plc
25 July 2023
25 July 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
888 Holdings Plc
("888" or "the Group")
Appointment of Per Widerström as Chief Executive Officer
888 (LSE: 888), one of the world's leading betting and gaming
companies with internationally renowned brands including William
Hill, 888 and Mr Green, today announces the appointment of Per
Widerström as Chief Executive Officer ("CEO"), with effect from 16
October 2023.
Per has more than 17 years of experience in the online gaming
industry, having most recently held the position of CEO at Fortuna
Entertainment Group, a market leading omni-channel betting and
gaming business across Central and Eastern Europe, from 2014 to
2022. Prior to that Per held a succession of senior roles across
leading online gaming businesses from 2006 onwards.
Upon Per joining the Group, Lord Mendelsohn will return to the
role of non-executive Chair, whilst ensuring a smooth transition of
responsibilities.
Lord Mendelsohn, Executive Chair of 888, commented:
"We are delighted to be able to appoint Per following what has
been an extensive and comprehensive search process. The Board
unanimously agreed that Per was the clear standout candidate to
lead the Group to build on the strong platform for growth and value
creation that has been established.
Per has extensive experience in both public and private
companies, and a long track record with a proven ability to execute
value creation plans. As well as being an energetic and inspiring
leader, Per brings nearly two decades of highly relevant industry
expertise into the role. He has a strong and proven track record of
driving growth and delivering transformation programmes at multiple
leading online gaming businesses, and the Board is very pleased to
appoint someone with the skillset to deliver our objective to
become a much stronger international multi-brand operator,
leveraging our technology and data capabilities to drive an
acceleration in growth.
Per not only understands the power and exciting potential of the
business, but the Board is also very pleased with his strong record
and reputation on governance and compliance."
Per Widerström, incoming CEO of 888, commented:
"I am delighted and honoured to become the Group's new CEO.
Following 888's combination with William Hill, the Group has a
world-class portfolio of betting and gaming brands, an outstanding
technology platform, and an exceptional team. Together these
attributes mean it is exceptionally well positioned to become a
clear global industry leader.
It is incredibly exciting to be joining at such a key moment in
the Group's long-term development. 888 has a clear and attractive
opportunity ahead of it and I am very much looking forward to
getting started and working with the rest of the team to build on
the strong progress already made and achieve the Group's full and
very exciting potential."
Enquiries and further information:
888 Holdings Plc +44(0) 800 029 3050
Lord Mendelsohn, Executive Chair
Yariv Dafna, Chief Financial Officer
Vaughan Lewis, Chief Strategy Officer
Investor Relations
James Finney, Director of IR ir@888holdings.com
Media 888williamhill@hudsonsandler.com
Hudson Sandler
Alex Brennan / Michael Sandler / Charlotte Cobb / Andy Richards +44(0) 207 796 4133
Biography :
-- Per Widerström, 57, is a global business leader with an
excellent track record of value creation across multiple leading
companies in the betting and gaming industry, in both public and
private companies, and in non-executive and executive roles.
-- Per was CEO of Fortuna Entertainment Group from 2014 to 2022,
where he was instrumental in designing and delivering a five-year
value creation plan to grow Fortuna into the leading omni-channel
regulated operator in Central and Eastern Europe. Per's plan
centred around improving technology and product, gaining market
share in existing and new territories via driving operational
excellence, and accelerating growth through M&A. During his
tenure at Fortuna, EBITDA grew from EUR25m to EUR150m by 2020.
-- Prior to Fortuna, he was Managing Director of Gala
Interactive at Gala Coral Group Plc from 2011 to 2014, where he
took part in transitioning the business from a retail-centric
culture to an online-first approach, including building an entirely
new team and operations for the Gala interactive business resulting
in a trebling of EBITDA. Per was also the chair of Gala Coral
Interactive, where his responsibilities included ensuring
collaboration and knowledge sharing between the two businesses.
-- Earlier in his career, he was Chief Operating Officer of
PartyGaming plc from 2010 to 2011 and subsequently Chief
Integration Officer at Bwin.Party Digital Entertainment Plc
following its merger in 2011.
-- Per's first role in gambling was as group CEO and Chair of
the Board at Expekt.com from 2006 to 2009, a European focused
betting and gaming brand where he led transformational growth
through to its EUR120m sale.
-- Prior to joining the gaming industry, Per held a range of
senior operational and commercial roles at large global
organisations, including COO of Kyivstar, CEO of Telenor Mobile
Sweden, and Director, Operational Marketing and Business
Development for The Coca-Cola Nordic Services.
-- Per holds Masters in International Accounting and Finance from the LSE
Disclosures pursuant to paragraph 9.6.13 of the Listing Rules of
the Financial Conduct Authority
Per Widerström is currently a Non-Executive Director of Casumo
Holding Plc, Bokadirekt, Qred Holding AB, Sambla Group AB, Turbotic
AB, Catena Media Plc, Bilthouse GmbH, Nordnet Bank AB, and is
engaged as an Industrial Advisor by Nordic Capital a private equity
firm.
Prior to commencement of his role as Director and CEO at 888,
Per will stand down from his roles at Casumo Holding Plc and Catena
Media, and plans to reduce other external commitments before taking
up his post.
There are no further disclosures required in respect of these
appointments pursuant to paragraph 9.6.13 of the Listing Rules of
the Financial Conduct Authority.
CEO remuneration
Per Widerström will received an annual fixed pay of GBP676,000,
be eligible to receive annual bonus and Performance Share Plan
awards, and relocation support, all in line with 888's existing
remuneration policy.
Further details of his remuneration arrangements will be set out
in the 2023 Director's Remuneration Report.
About 888 Holdings Plc:
888 Holdings plc (and together with its subsidiaries, "888" or
the "Group") is one of the world's leading betting and gaming
companies. The Group owns and operates internationally renowned
brands including William Hill, 888, and Mr Green. In addition, the
Group operates the SI Sportsbook and SI Casino brands in the US in
partnership with Authentic Brands Group.
Incorporated in Gibraltar, and headquartered and listed in
London, the Group operates from offices around the world and
employs over 11,000 people globally.
The Group's mission is to lead the gambling world in creating
the best betting and gaming experiences, bringing unrivalled
moments of excitement to people's day-to-day lives. It achieves
this by developing state-of-the-art technology and content-rich
products that provide fun, fair, and safe betting and gaming
entertainment to customers worldwide.
Find out more at:
http://corporate.888.com/
Important Notices
This announcement may contain certain forward-looking
statements, beliefs or opinions, with respect to the financial
condition, results of operations and business of 888. These
statements, which contain the words "anticipate", "believe",
"intend", "estimate", "expect", "may", "will", "seek", "continue",
"aim", "target", "projected", "plan", "goal", "achieve", words of
similar meaning or other forward looking statements, reflect 888's
beliefs and expectations and are based on numerous assumptions
regarding 888's present and future business strategies and the
environment 888 will operate in and are subject to risks and
uncertainties that may cause actual results to differ materially.
No representation is made that any of these statements or forecasts
will come to pass or that any forecast results will be achieved.
Forward-looking statements involve inherent known and unknown
risks, uncertainties and contingencies because they relate to
events and depend on circumstances that may or may not occur in the
future and may cause the actual results, performance or
achievements of 888 to be materially different from those expressed
or implied by such forward looking statements. Many of these risks
and uncertainties relate to factors that are beyond 888's ability
to control or estimate precisely, such as future market conditions,
currency fluctuations, the behaviour of other market participants,
the actions of regulators and other factors such as 888's ability
to continue to obtain financing to meet its liquidity needs,
changes in the political, social and regulatory framework in which
888 operates or in economic or technological trends or conditions.
Past performance of 888 cannot be relied on as a guide to future
performance. As a result, you are cautioned not to place undue
reliance on such forward-looking statements. The list above is not
exhaustive and there are other factors that may cause 888's actual
results to differ materially from the forward-looking statements
contained in this announcement. Forward-looking statements speak
only as of their date and 888, its respective parent and subsidiary
undertakings, the subsidiary undertakings of such
parent undertakings, and any of such person's respective
directors, officers, employees, agents, affiliates or advisers
expressly disclaim any obligation to supplement, amend, update or
revise any of the forward-looking statements made herein, except
where it would be required to do so under applicable law. No
statement in this announcement is intended as a profit forecast or
a profit estimate and no statement in this announcement should be
interpreted to mean that the financial performance of 888 for the
current or future financial years would necessarily match or exceed
the historical published for 888
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