Codere sets global focus with management restructuring

12 April 2019

Madrid-listed Codere has announced a series of changes to its organisational structure as part of an effort to simplify management processes and give more accountability to regional divisions. 

Codere has said the new structure will help the group to improve its operational capabilities and improve the efficiency of its management processes, with the idea of giving more prominence to certain sections of the business and strengthening functional areas.

Approved by Codere’s board, the new structure splits operational and regional leadership into two sections, with officials reporting to group CEO Vicente Di Loreto.

In terms of operational roles, Carlos Villaseca will continue as chief operations officer for retail, with Moshe Edree to serve in the same role for digital. Serafín Gómez will oversee security and compliance functions.

Codere has also set out three specific regional roles, with Alejandro Pascual to serve as regional manager for the operator in Europe, Rodrigo González in Mexico and Bernardo Chena in Latin America, with the exception of Mexico.

The group’s existing country managers for Argentina, Colombia, Panama and Uruguay will remain in place, reporting to the new regional managers.

“I have the greatest confidence in our management team and in our organisation; the extensive experience and talent of those who make up Codere are undoubtedly great assets with which to face the opportunities and challenges that the market presents,” Di Loreto said.

The restructure comes after Codere in February posted a 9.9% drop in revenue for 2018. Revenue was down €1.48bn (£1.28bn/$1.68bn) as the group was hit by the devaluation of the Argentine Peso.