Vicente Di Loreto to step down as CEO of Codere Group
Two co-CEOs will replace Vicente Di Loreto from July 1.
Spain.- Codere Group has announced that its chief executive Vicente Di Loreto will leave his role and will be replaced by co-CEOs from July 1.
He has led Codere Group since January 2018 and has overseen its restructuring following the takeover by creditors in November.
Di Loreto will remain a board member and senior advisor to the management team. CEO duties will be taken up by Alberto González del Solar and Alejandro Rodino, subject to shareholder approval.
González del Solar joined Codere in 2005 and since 2019 has served as retail COO. Rodino has been with Codere since 2003 and is currently chief strategy and corporate areas officer. Together they will oversee the preparation of Codere’s 2022-26 business plan, which is due to be finalised soon.
Di Loreto said: “It has been an honour these last four years to be CEO of Codere Group. Alejandro, Alberto and I have been working together for many years and I am convinced that this new arrangement captures what is best for the company.
“On completion of the restructuring, I have made a lifestyle decision and decided to pass on the baton of executive responsibility. This will allow me to have more time and flexibility, but my commitment to the project, the new board and the management team will remain intact in my new role as director and senior advisor to the management.”
Christopher Bell, who became non-executive chairman of Nueva Codere last month, said: “Under the leadership of Vicente Di Loreto, the company has achieved both an operational transformation and financial restructuring in extremely challenging circumstances.
“Alejandro Rodino and Alberto González del Solar are two professionals with in-depth knowledge of the industry and renowned throughout the company, within which they have been cooperating from several positions of responsibility for more than 15 years.”
The announcement of Di Loreto’s departure comes after Nueva Codere completed its new board of directors earlier this month, with Bell and Di Loreto on the board confirmed by shareholders.
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