The Board of Directors of Grupo Codere renews the company´s management

• The meeting of the Board of Directors held on January 12 approved the appointments of Norman Sorensen Valdez as non-executive Chairman and Vicente Di Loreto as CEO.


• The new management will focus on profitable growth and shareholder value creation capitalizing on the Company´s strong market positions.

The Board of Directors of Grupo Codere, a leading company in the private gaming sector worldwide, has decided at its meeting held on January 12, the appointment of Norman Sorensen Valdez as non-executive Chairman, and of Vicente Di Loreto as CEO of the company. Both appointments have the full support and consensus from the majority of the Board, which considers that a new leadership is necessary in the company to drive profitable growth and maximize shareholder value.

Norman Sorensen Valdez, non-executive Chairman of the company, pointed out that, "we face this new stage of Codere with the hope of making a great project grow. We have the certainty of being able to count on the talent and potential to face a promising future to continue at the forefront of the private gaming sector."

In this sense, Vicente Di Loreto, CEO of the company explained that, “it is time to strengthen Codere's leadership in its current markets, while increasing resources and efforts in on-line markets, enhancing the integration between them and enriching the value proposition for our customers. All of this without neglecting growth opportunities that could arise, particularly in a market such as Brazil, which is not yet regulated. Codere is a great organization that has managed to be at the forefront in recent decades, our intention is to continue creating value and enhancing our experience to address new projects and capture opportunities for growth.”

Norman Sorensen Valdez, a member of Codere's Board of Directors since 2016 (as a Coordinator Member and Chairman of Appointments, Retributions and Corporate Government and vocal of the Audit Committee), will develop corporate government tasks  and will provide his extensive experience in the design of the business strategy. Norman has a deep knowledge of the financial services and global consumer goods markets, as well as a long career in management positions in large companies such as Citibank and AIG.

Vicente Di Loreto, who will lead executive duties within the organization, is a founding partner of G3M Partners, where he was a CEO until his appointment in Codere. He has extensive experience in management positions in large companies such as Arthur Andersen, Pepsi, Bunge, Grupo Clarín and Codere itself, where he served as CEO for Argentina and later as COO for Latin America.  His professional career has been developed in different industries, but it has been strongly linked to the gaming sector in the last 14 years, where he has accumulated remarkable success and experience in the development and implementation of strategic growth plans.