Vicente Di Loreto has chosen to end his leadership tenure as Chief Executive of Spanish gambling group Codere. 

This morning, Nueva Codere – the business identity of Grupo Codere SA under the ownership of bondholders – published a leadership succession plan informing the market that Di Loreto would be replaced by the new leadership duo of Alberto González del Solar and Alejandro Rodino as joint-CEOS.

The succession plan will see Di Loreto leave office on 30 June, taking an executive director seat on the board of Nueva Codere led by new Chairman Christopher Bell.

Di Loreto remarked: “It has been an honour these last four years to be CEO of Codere Group. Alejandro, Alberto and I have been working together for many years and I am convinced that this new arrangement captures what is best for the Company. On completion of the restructuring.

“This will allow me to have more time and flexibility, but my commitment to the project, the new board and the management team will remain intact in my new role as Director and senior advisor to the management.”

Come July, the leadership duo of Alejandro Rodino and Alberto Gonzalez will lead Codere, charged with executing the firms’ new ‘Business Plan 2022-2026’ – which is yet to be finalised by the board.

A 19-year executive of Codere, Rodino has formerly served as the Chief Strategy Officer (CSO) leading Codere’s business transformation directives across Spain and South America.

Meanwhile, CEO partner Gonzalez is the former Group Retail COO of Codere and the Managing Partner for the group’s Argentine gambling division.

Chairman Christopher  Bell commented on the update:  “Under the leadership of Vicente Di Loreto, the Company has achieved both an operational transformation and financial rstructuring in extremely challenging circumstances.

“We are grateful for his achievements and fully support his decision, convinced that from his new position of responsibility he will continue to contribute knowledge and experience of great value to the group.

 “Alejandro Rodino and Alberto González del Solar are two professionals with in-depth knowledge of the industry and renowned throughout the Company, within which they have been cooperating from several positions of responsibility for more than 15 years. 

“During the time we have spent together, we have been able to confirm their commitment and performance and I am excited and honoured to be leading a business with a management team of this calibre and strength in depth.”