## Codere Names Villalva as New Financial Head
The Codere Group has declared the selection of Luis Villalva as its new Chief Financial Officer. Villalva assumes the role from Oscar Fernandez de Llano, who recently stepped down for personal motives.
Villalva will guide Codere’s financial strategy, concentrating on bolstering investor connections following the company’s recent debt restructuring.
Villalva joins Codere from the Deoldeo Group, where he served as CFO and a member of the Executive Team. He was in charge of accounting, administration, finance, investor relations, tax, and IT.
Prior to Deoldeo, Villalva spent over 17 years at PwC, working in auditing, transaction services, and business recovery services.
Codere stated that Villalva’s appointment is essential for the company’s new stage, where they aim to solidify their ventures and generate value in the market. They emphasized his adaptability and extensive financial expertise as valuable resources.
Codere highlighted that this appointment is part of their strategic growth and commitment to strengthening their leadership position in the private gaming sector.
Villalva’s appointment follows the recent selection of Gonzaga Igro as Codere’s new CEO.
Higuero, in his new role as Chief Executive Officer, will guide Codere’s expansion strategies in its key operational regions.
Codere also welcomed Michal Elimelech to their board of directors in June.
These changes in leadership follow Codere Online’s announcement of a reduction in net losses during the initial quarter.
Codere experienced year-on-year growth across all its operational markets during the first three months of the year. Income from each regional operation witnessed a double-digit surge.
Overall revenue climbed by 54.9% compared to the previous year. Spain’s revenue rose by 39.4%, while Mexico’s revenue surged by 76.0% and Colombia’s revenue ascended by 53.3%.
Adjusted EBITDA losses improved from €13.2 million to €2.3 million, while net losses decreased considerably from €10.1 million to €1.1 million.
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