The Blackstone-owned Spanish gambling group has split its CEO and chairman roles.
Spain.- The board of Grupo CIRSA has announced that it has split the company’s CEO and chairman roles. Joaquim Agut, who has served in both roles since the investment company Blackstone bought the group in 2018, will continue as chairman alone. Meanwhile, Antonio Hostench has been named as CEO.
As executive chairman, Agut will lead CIRSA’s corporate governance, leadership remuneration and appointment committees. Hostench, who has been promoted to CEO from the role of president of CIRSA’s Sportium sportsbook brand, will oversee the company’s growth strategy and management of executive leadership team.
Agut described the appointment of Hostench as “a natural decision that responds to the Group’s culture of believing in internal talent and promoting it”.
He said: “Antonio has proven to be a key part in the process of professionalization of the company and its growth thanks to its deep knowledge of the sector acquired through its years of experience in CIRSA”.
The change follows Spain’s code on corporate governance. Meanwhile, Blackstone is reportedly reviewing its options for CIRSA, which reported better than expected results in 2021 considering the ongoing impact of Covid-19 on retail operations in Spain and Latin America.