Codere Online Announces Chief Financial Officer Transition to New Role
Codere Online (Nasdaq: CDRO), a leading online gaming operator in Spain and Latin America, announced that CFO Oscar Iglesias will step down from his position by December 31, 2025. Following his departure, Iglesias will transition to the company's Board of Directors, where he previously served from 2021 to 2023.
Iglesias, who joined Codere Online in 2021, played a crucial role in the company's 2021 public listing through its merger with DD3 Acquisition Corp. II. Prior to Codere Online, he spent six years at Codere Group as Global Head of Corporate Development and Deputy CFO. The company has initiated a search for a new CFO to ensure a smooth transition.
Codere Online (Nasdaq: CDRO), un operatore leader nel gioco online in Spagna e America Latina, ha annunciato che il CFO Oscar Iglesias si dimetterà dalla sua carica entro il 31 dicembre 2025. Dopo la sua uscita, Iglesias entrerà a far parte del Consiglio di Amministrazione della società, dove aveva già ricoperto un ruolo dal 2021 al 2023.
Iglesias, entrato in Codere Online nel 2021, è stato determinante per la quotazione in borsa del 2021 tramite la fusione con DD3 Acquisition Corp. II. Prima di Codere Online, ha lavorato per sei anni nel Codere Group come Global Head of Corporate Development e Deputy CFO. L’azienda ha avviato la ricerca di un nuovo CFO per garantire una transizione senza intoppi.
Codere Online (Nasdaq: CDRO), un operador líder de juego online en España y Latinoamérica, anunció que el CFO Oscar Iglesias renunciará a su puesto antes del 31 de diciembre de 2025. Tras su salida, Iglesias pasará a formar parte del Consejo de Administración de la compañía, donde ya había estado entre 2021 y 2023.
Iglesias, que se incorporó a Codere Online en 2021, jugó un papel clave en la salida a bolsa de 2021 mediante la fusión con DD3 Acquisition Corp. II. Antes de Codere Online, pasó seis años en Codere Group como Global Head of Corporate Development y Deputy CFO. La empresa ha iniciado la búsqueda de un nuevo CFO para asegurar una transición fluida.
코데레 온라인(Nasdaq: CDRO), 스페인 및 라틴아메리카의 주요 온라인 게임 운영업체는 CFO인 오스카 이글레시아스가 2025년 12월 31일까지 사임할 예정이라고 발표했습니다. 이글레시아스는 퇴임 후 2021년부터 2023년까지 재직했던 회사의 이사회로 자리를 옮길 예정입니다.
이글레시아스는 2021년 코데레 온라인에 합류해 DD3 Acquisition Corp. II와의 합병을 통한 2021년 상장에 중요한 역할을 했습니다. 코데레 온라인 이전에는 Codere Group에서 글로벌 기업 개발 책임자(Global Head of Corporate Development) 및 부재무책임자(Deputy CFO)로 6년간 근무했습니다. 회사는 원활한 인수인계가 이루어지도록 새로운 CFO를 찾기 위한 절차를 시작했습니다.
Codere Online (Nasdaq: CDRO), un opérateur majeur de jeux en ligne en Espagne et en Amérique latine, a annoncé que le directeur financier Oscar Iglesias démissionnera de son poste d'ici le 31 décembre 2025. Après son départ, Iglesias rejoindra le conseil d'administration de la société, où il a déjà siégé de 2021 à 2023.
Iglesias, qui a rejoint Codere Online en 2021, a joué un rôle clé dans l'introduction en bourse de 2021 via la fusion avec DD3 Acquisition Corp. II. Avant Codere Online, il a passé six ans au sein du Codere Group en tant que Global Head of Corporate Development et Deputy CFO. La société a lancé la recherche d'un nouveau directeur financier afin d'assurer une transition en douceur.
Codere Online (Nasdaq: CDRO), ein führender Online-Glücksspielanbieter in Spanien und Lateinamerika, gab bekannt, dass der CFO Oscar Iglesias bis zum 31. Dezember 2025 zurücktreten wird. Nach seinem Weggang wird Iglesias in den Vorstand des Unternehmens wechseln, in dem er bereits von 2021 bis 2023 tätig war.
Iglesias, der 2021 zu Codere Online kam, spielte eine entscheidende Rolle bei der Börsennotierung 2021 durch die Fusion mit DD3 Acquisition Corp. II. Vor Codere Online arbeitete er sechs Jahre bei der Codere Group als Global Head of Corporate Development und Deputy CFO. Das Unternehmen hat die Suche nach einem neuen CFO begonnen, um einen reibungslosen Übergang sicherzustellen.
- Planned smooth transition with CFO remaining until December 31, 2025
- Retention of institutional knowledge through CFO's transition to Board position
- Demonstrates strong succession planning with advance notice of change
- Loss of experienced CFO who led successful public listing
- Potential disruption in financial leadership during transition period
Luxembourg, Grand Duchy of Luxembourg, September 2, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, today announced that Oscar Iglesias, the Company’s Chief Financial Officer, notified the Company of his decision to step down from his role for personal reasons, effective upon the earlier of the completion of an orderly transition to his successor or December 31, 2025.
In connection with the transition and subject to shareholder approval, the Company’s Board of Directors (the “Board”) shall appoint Mr. Iglesias to the Board, where he formerly served between 2021 and 2023 and where he will remain actively engaged in driving Codere Online’s strategic direction.
Mr. Iglesias has been with Codere Online since 2021 and has played a central role in its growth and transformation. Among his many contributions, he was instrumental in leading the Company through its successful 2021 public listing via a merger with DD3 Acquisition Corp. II, thereby strengthening its capital position and enhancing its visibility in the market. Prior to that, Mr. Iglesias spent six years at Codere Group, Codere Online’s parent company, where he served as Global Head of Corporate Development and Deputy CFO.
“We are grateful to Oscar for his leadership and dedication over the past decade,” said Gonzaga Higuero, Chairman of the Board. “He has been a trusted partner and a driving force behind our journey from a private company to a Nasdaq-listed organization. We are pleased that he will remain closely involved with the Company as a member of our Board.”
Mr. Iglesias added: “I am very proud of what we have accomplished together, having successfully delivered on the plan we set out to investors in 2021. While I have made the personal decision to move on from a day-to-day role in the Company, I look forward to continue supporting Codere Online as both a Board member and shareholder of the Company.”
The Company has initiated a search process to identify a new Chief Financial Officer and is committed to a seamless transition.
About Codere Online
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina. Codere Online’s online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
About Codere Group
Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).
Forward-Looking Statements
Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans.
These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, and (xii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Trademarks
This document may contain trademarks, service marks, trade names and copyrights of Codere Online or other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this document may be listed without the TM, SM, © or ® symbols, but Codere Online will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights.
Contacts:
Investors and Media
Guillermo Lancha
Director, Investor Relations and Communications
Guillermo.Lancha@codere.com
(+34) 628 928 152
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