Catena Media proposes Erik Flinck as chairman amid board reshuffle

Catena has proposed a reduction in the size of its board.

Sweden.- Catena Media’s nomination committee has proposed a board reshuffle with Erik Flinck as chairman and Dan Castillo to join as a new board member. It has proposed a reduction in the board’s size from seven to six members.

Flinck was a managing partner at Boston Consulting Group Sweden and served as head of group strategy and M&A at Sandvik AB. Meanwhile, Castillo, who has been an investor in Catena Media since 2015, has board experience at pizza chain Kotipizza, which was bought by Orkla in 2018. He is currently on the board at the fintech company Quartr.com and fintech and movie production company Hope Studios.

The nomination committee has also proposed the re-election of Øystein Engebretsen, Theodore Bergquist, Adam Krejcik and Sean Hurley to the board. Meanwhile, Göran Blomberg, who has been chairman since May 2020, Esther Teixeira-Boucher and Austin Malcomb declined re-election.

Earlier this month, Catena Media named Manuel Stan, Kindred Group’s former SVP and general manager for North America, as CEO, following the resignation of Michael Daly. Stan spent 16 years at Kindred, serving in several roles, including in marketing. He will take the helm at Catena on July 1 and will work from Las Vegas.

Sweden-listed Catena reported revenue from continuing operations of €76.7m for 2023, down by 22 per cent year-on-year. North American revenue represented 87 per cent of the total and was down by 21 per cent.

In November, Catena Media reached agreements to sell its Italy-facing operations for €19.8m. The sale, which includes the Superscommesse brand, follows the company’s strategic review, under which it decided to reduce its assets in Europe to focus on the North American market.