SBC News Voice of the Sports Betting Industry
Better Collective is contemplating changes to senior leadership at a time when the betting focused sports media group is looking to seriously step up its international growth ambitions.
The Nasdaq-listed group has proposed that Thomas Plenborg join its Board of Directors at its upcoming annual general meeting. Plenborg has been proposed as a replacement for Petra Von Rohr, who is stepping down from the board.
Plenborg’s experience with DSV, a transport and logistics company specialising in supply chains, has been cited as valuable by Better Collective. The businessman and Professor at Copenhagen Business School has worked at the firm for 14 years, reaching the role of Chairman.
His experience of driving organic growth and strategic M&As is of particular interest to Better Collective, the company explained in a statement. With the firm having been an active participant in the latter, his knowledge of M&A may prove particularly useful.
Chair of the Board of Better Collective, Jens Bager, said: “On behalf of the Board, company and Founders, I would like to express our sincere appreciation to Petra Von Rohr for her dedicated service over the past seven years on the Board of Better Collective. Following the Annual General Meeting, we anticipate welcoming Thomas Plenborg as a new Board member.
M&A focus
The announcement comes a couple of days after Better Collective published its financial results for 2024, revealing revenue growth of 14% year-over-year from €326.7m to €371.5m, though EBITDA did drop slightly.
As mentioned above, M&A has been a defining trait of Better Collective’s business activity over the past couple of years. The firm has notably acquired assets in valuable markets such as Playmaker in the Americas and AceOdds in the UK.
Bager concluded: “Thomas brings extensive experience from companies on comparable growth trajectories characterized by the execution of successful M&A strategies followed by efficient integrations and optimisations.
“With his proven track record in overseeing significant shareholder value creation and strategic growth, I am confident he will be a strong addition to the Board.“
The firm’s citation of Plenborg’s experience of strategic M&A may suggest that it has future acquisitions on its mind.
Plenborg’s future as a Better Collective board member will be decided at its AGM on 22 April, with the nominations committee also recommending that Bager be re-elected as Chair and Therese Hillman as Vice Chair.
