OPAP hunts new Chairman as Ziegler’s retires unexpectedly

The board of OPAP SA has initiated a search for a new chairman following the immediate resignation of Kamil Ziegler.

Yesterday, OPAP informed investors that Ziegler had stood down as Chairman of the Athens-listed gambling group and operator of the Greek national lottery.

Intermediate plans will see Jan Karas take on the dual responsibilities of Group CEO and Chairman of OPAP.

Investors were informed that Ziegler had resigned as Chairman due to ‘personal reasons,’ but will be maintained as an executive advisor of the OPAP board.

Karas and the OPAP board will lead the company through this transitional period while overseeing the ongoing search for Ziegler’s permanent successor. The board is expected to prioritise candidates with a deep understanding of the gambling and lottery sector, along with a strong background in corporate governance.

Meanwhile, the company continues its strategic efforts to expand its gaming portfolio and enhance its digital capabilities in response to market trends and increased competition.

Investors remain confident in the stability of OPAP, as evidenced by a slight rise in the company’s share price following the announcement. Shares of OPAP were up 0.44% to €16.03 in Tuesday’s trading on the Athens Stock Exchange.

The board has set a target to finalise the appointment of the new chairman by the end of the current fiscal year. Until then, the combined leadership of Karas will ensure the continuity of OPAP’s long-term strategy and operations.