Kindred proposes five new Board members whilst re-electing standing four

Kindred Group’s Nomination Committee has proposed five new members of the company’s Board, with the ultimate decision to take place at the company’s 2023 AGM.

Cédric Boireau, Jonas Jansson, Andy McCue, Martin Randel and Kenneth Shea have all been chosen to join the firm’s senior leadership and guide its 2023 strategy. 

Additionally, four sitting members of the Board have also been proposed for re-election – Evert Carlsson, James H. Gemmel, Carl-Magnus Månsson and Heidi Skogster.

Keith Meister, Chairman of the Nomination Committee, said: “The Nomination Committee believes that its proposed Board, which replaces a majority of Directors, should be communicated to stakeholders in a timely manner. 

“As such, we felt it was prudent to make this disclosure before the Notice of the AGM 2023 and our Motivated Opinion.”

The Nomination Committee made its proposals based on the ‘complementary skill sets’ of the nine standing and potential Board members, which it believes will strengthen Kindred’s leadership. 

Messrs. Boireau and Gemmel account for ‘almost 20% ownership’ of the Stockholm-listed gambling firm, which the Committee believes will ensure shareholder representation on the Board. 

Meanwhile Messrs. Jansson and McCue bring ‘critical gaming industry expertise’, whilst  Messrs. Shea and Randel also specialise in business, capital markets and M&A. 

“The proposed new Board has the right mix of continuity: new directors representing large owners, proven industry leaders, and business leaders with capital markets, M&A, and entrepreneurial expertise,” Meister continued.

“The Nomination Committee believes the proposed Board is ideally suited to work with management and represent shareholders’ interests. I believe the reconstituted Board will look at all options to drive sustainable, risk adjusted value for all shareholders.”

Breaking down the nominees’ backgrounds, Jansson was COO of Kambi for 10 years – during which time the B2B supplier split from Kindred – and was Head of Trading for Kindred’s Unibet brand.

McCue has served on the Board of Betsson in the past, whilst his most prominent betting and gaming role was as CEO of Paddy Power, where he oversaw the merger with Betfair in 2016.

Meanwhile, bringing investment experience, Boireau ‘has worked with SAS Premier for over 10 years’, and Randel is a founder, owner and member of the Board of companies such as Vitamin Well, Unifaun, Instabee, Green Gold and EnginZyme.

Lastly, Shea is currently real estate investment firm Director of Investments at Hamilton Point Investments, and ran the Gaming and Leisure division as Managing Director at  Guggenheim Securities and Bear, Stearns, & Co. Inc.

The Committee’s suggestions for the nine person Board will be assessed and decided at Kindred’s AGM in April 2023, and if chosen will hold their positions until voting at the 2024 meeting. 

The new nominations to Kindred’s board comes as the firm closes an active year, having experienced strong trading during the World Cup and being named one of Sweden’s top employers

However, 2022 has not been without hurdles for the firm, as its Trannel Subsidiary faces ‘coercive fines’ in Norway, whilst Unibet has faced legal and regulatory challenges in Ontario, Poland and Sweden.

SBC News Kindred proposes five new Board members whilst re-electing standing four

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