Catena Media has announced the immediate departure of Dan Castillo from the company’s board of directors.
Castillo was elected to the board as a non-executive director of the Stockholm-listed iGaming affiliate in May 2024 and has been an investor in the business since 2015.
Last month he was nominated for election to the board at the company’s next annual general meeting, which is scheduled to take place on 21 May in Malta.
As a result of Castillo’s sudden departure, Catena Media will now seek shareholder approval to reduce the size of its board to five members, with Castillo no longer standing for re-election.
Catena Media chairman Erik Flinck said: “On behalf of the board, I’d like to express thanks to Dan for his service and for his contribution to initiating the turnaround at Catena Media. We wish him well for the future.”
Another Catena Media director, Eilers & Krejcik Gaming (EKG) co-founder Adam Krejcik, has also declined re-election to the board.
Shares in Catena Media plc. (STO:CTM) were trading 6.93 per cent lower at a new 52-week low of SEK1.91 per share in Stockholm Friday morning.