888 names Lord Mendelsohn as next chairman

London-listed gaming operator 888 Holdings has named Labour peer Lord Jonathan Mendelsohn as its next chairman.

Mendelsohn will take over as chairman next year from incumbent Brian Mattingley, who will step down at the next Annual General Meeting in May 2021, and also assumes the role of non-executive director with immediate effect.

Mendelsohn co-founded gaming M&A firm Oakvale Capital and corporate and public affairs consultancy LLM Communications, and currently serves as senior adviser to luxury outlet mall operator Value Retail.

He was made a Labour life peer in 2013 and has previously served as a spokesperson for partygaming.

"We are delighted that Jon has accepted the offer to join the Board and become the next Chair of 888. Jon has tremendous knowledge of the global online gaming industry, extensive deal-making experience and fantastic leadership qualities.  I am very confident that the Board will benefit significantly from Jon’s vast understanding of our sector as the Group continues its exciting long-term development,” said 888 chairman Brian Mattingley.

“It has been a great privilege to Chair 888 and serve its stakeholders during more than 15 years with the Group. I am personally very pleased that someone of Jon’s experience and calibre will succeed me as Chair and I look forward to working closely with him over the coming months.”

Commenting on his new role, Mendelsohn said: “I am very excited to join the Board of such a world-class gaming operator. 888 is a company that I have long admired during my more than 20 years working with companies in the gaming and gambling industries.

“The Group has a number of very exciting opportunities and I am looking forward to working closely with the Board and the management team to continue to deliver the Group’s growth strategy and generate further stakeholder value.”

Shares in 888 Holdings plc. (LSE:888) were trading 2.08 per cent higher at 185.18 pence per share in London early Wednesday morning.