888 appoints Per Wideström as CEO

888 Holdings has named Per Widerström as the company’s next chief executive officer.

Widerström will assume his new role on 16 October, at which time Lord Mendelsohn will return to the role of non-executive chair, having led the business since the departure of former CEO Itai Pazner in January of this year.

Widerström is a seasoned gaming executive who most recently served as chief executive of European gaming operator Fortuna Entertainment.

“I am delighted and honoured to become the Group’s new CEO,” said Widerström. “Following 888’s combination with William Hill, the Group has a world-class portfolio of betting and gaming brands, an outstanding technology platform, and an exceptional team. Together these attributes mean it is exceptionally well positioned to become a clear global industry leader.”

His appointment comes just over a week after Britain's Gambling Commission firmly ended the prospect of a leadership takeover by former GVC/Entain executives who acquired a 6 per cent stake in the business in early June.

Lord Mendelsohn, executive chair of 888, commented: “We are delighted to be able to appoint Per following what has been an extensive and comprehensive search process. The Board unanimously agreed that Per was the clear standout candidate to lead the Group to build on the strong platform for growth and value creation that has been established.

“Per has extensive experience in both public and private companies, and a long track record with a proven ability to execute value creation plans.  As well as being an energetic and inspiring leader, Per brings nearly two decades of highly relevant industry expertise into the role. He has a strong and proven track record of driving growth and delivering transformation programmes at multiple leading online gaming businesses, and the Board is very pleased to appoint someone with the skillset to deliver our objective to become a much stronger international multi-brand operator, leveraging our technology and data capabilities to drive an acceleration in growth,” Mendelsohn added.

“Per not only understands the power and exciting potential of the business, but the Board is also very pleased with his strong record and reputation on governance and compliance.”

Shares in 888 Holdings plc. (LSE:888) closed 4.78 per cent higher at 105.30 pence per share in London Monday, prior to this morning's announcement.