Tipico Group has announced that Axel Hefer will become CEO, succeeding Joachim Baca, who will take over as Chairman of the Supervisory Board.
Heffer first joined the sports betting brand in November, when he was named chief operating officer.
He has worked at German technology companies, most recently at travel search engine Trivago, and previously at online furniture retailer Home24. He also worked in private equity and began his career as a management consultant.
Heffer also comes from the sports industry and currently serves as chairman of the supervisory board of Schalke 04 football club.
Daniel Pindur, Managing Partner of CVC and former Chairman of the Supervisory Board of Tipico Group, said: “Over the past eight years, Joachim has made an outstanding contribution in driving the development of Tipico and establishing it as an international sports betting and technology company.
"We thank him for his outstanding contribution and are pleased that he will continue in his key role as Chairman of the Supervisory Board. At the same time, we are delighted that Axel is joining Tipico as an experienced strategist and manager. During his tenure as COO, Axel has already demonstrated that he has We look forward to working together to continue Tipico's successful trajectory."
Baca, outgoing CEO of Tipico Group and incoming Chairman of the Supervisory Board, said: "I am deeply honored to lead Tipico on a path to strong growth, build the structure and expand the product portfolio. We have laid the foundations for a prosperous future.
I am proud of what we have achieved together and look forward to remaining part of the team and continuing to contribute to the continued success in my capacity as Chairman of the Supervisory Board. I would like to express my gratitude to all my colleagues and the owners of Tipico for their trust and excellent cooperation. "
Hefer himself added: “In recent years, Tipico has grown from a start-up to become the authoritative market and technology leader in German sports betting. I am eager to continue this success story together with the Tipico team and owners. Together we are committed to providing Offering sports fans the best and safest betting experience, extending our market leadership and achieving additional sustainable growth."
In other appointment news, Mark Shaw announced this week that he has taken on the role of global payments strategy director at Flutter Entertainment, following his departure from music streaming giant Spotify in April.
