Kindred Reshuffles Board After FDJ Acquisition

Following La Française des Jeux (FDJ)‘s successful acquisition of Kindred Group, six members of Kindred’s Board of Directors, including the Chairman, have resigned, making way for a new leadership team. This significant reshuffling, led by newly appointed Chairperson Pascal Chaffard, is set to redefine Kindred’s governance as it integrates with FDJ’s expanding European gambling operations.

Kindred Reshuffles Board, Appoints New Chair and Directors After FDJ Acquisition

Kindred Group has undergone a major board restructuring following the acquisition by La Française des Jeux (FDJ), one of Europe’s leading lottery and sports betting operators. On 14 October 2024, six members of Kindred’s Board of Directors, including Chairman Evert Carlsson, announced their resignations, paving the way for FDJ to appoint new leadership.

This change follows FDJ’s public offer for Kindred, which resulted in the French operator acquiring more than 90% of the company’s shares, solidifying its control over Kindred’s operations. The acquisition, valued at nearly €2.5bn ($2.7bn), marks a major step for FDJ in expanding its reach across European online gambling markets, leveraging Kindred’s well-established brands, including Unibet and 32Red.

Key Points:

1. Board Restructuring: Six directors, including Chairman Evert Carlsson, have resigned from Kindred’s Board following the acquisition by FDJ.
2. New Appointments: Pascal Chaffard has been appointed as the new Chairperson, with Edeline Minaire and Célia Vérot joining the board as directors.
3. FDJ Integration: The acquisition allows FDJ to extend its reach in the European market, integrating its lottery and sports betting operations with Kindred’s online brands.

The resigning board members include Evert Carlsson, James H Gemmel, Cédric Boireau, Andrew McCue, Jonas Jansson, and Kenneth Shea. Remaining directors Heidi Skogster and Martin Randel will stay in their roles until Kindred’s next annual general meeting in 2025.

New Leadership for Kindred

In response to these departures, FDJ has appointed Pascal Chaffard, Edeline Minaire, and Célia Vérot to Kindred’s board, marking a new phase of leadership under FDJ’s ownership. Pascal Chaffard, who has been with FDJ since 1994, will take on the role of Chairperson. Chaffard has extensive experience in finance, performance, and strategy, serving as Executive VP of Finance at FDJ.

Edeline Minaire, FDJ’s Finance Director since 2019, and Célia Vérot, FDJ’s Chief Regulation Officer, will also bring their expertise to Kindred’s governance, helping to ensure a smooth integration of operations between the two companies.

In addition to the new appointments, Kindred’s Audit Committee will now consist of Heidi Skogster (Chairperson), Martin Randel, and Edeline Minaire, while the Remuneration Committee will be chaired by Pascal Chaffard, with support from Heidi Skogster and Martin Randel.

The Acquisition’s Broader Impact

FDJ’s acquisition of Kindred secures the French operator’s foothold in the European online gambling and sports betting markets, allowing it to combine its lottery and sports betting portfolio with Kindred’s well-established online brands. This move is expected to significantly increase FDJ’s market share and broaden its customer base across regulated markets.

As part of the acquisition process, FDJ plans to initiate a squeeze-out procedure to acquire the remaining shares in Kindred, with the offer period extended until 18 October 2024.

FDJ’s newly appointed directors at Kindred bring extensive experience from the gaming and regulatory sectors, which is expected to play a crucial role in navigating the competitive online gambling landscape. Pascal Chaffard, for instance, has held senior positions at FDJ for over two decades, providing leadership in areas of finance, strategy, and performance management.

A Strategic Acquisition

The acquisition of Kindred is a significant step for FDJ, which continues to pursue its growth strategy in Europe. By acquiring a majority stake in Kindred, FDJ gains access to a portfolio of well-known gambling brands, including Unibet and 32Red, further strengthening its position in both the online casino and sports betting markets.

With Kindred’s governance now under FDJ’s leadership, the company is expected to benefit from synergies in operations, while leveraging FDJ’s expertise in lottery operations and sports betting regulation. The addition of FDJ’s regulatory and financial expertise, through the appointments of Edeline Minaire and Célia Vérot, further highlights FDJ’s intention to strengthen Kindred’s operational and strategic oversight.

Following the FDJ acquisition, Kindred’s Board of Directors has undergone a major restructuring, with the appointment of Pascal Chaffard as Chairperson and two new directors, signaling a new chapter for the company. As Kindred integrates into FDJ’s growing portfolio, the reshuffling ensures the company remains focused on innovation, compliance, and expansion in the European gambling market.