888 recruits Oakvale Capital co-founder Lord Mendelsohn as new chairman

888 has chosen Lord Jonathan (Jon) Mendelsohn as its new chairman following an extensive search process and succession plan conducted by the operator’s nominations committee. Mendelsohn will take over from incumbent chair Brian Mattingley at the operator’s next AGM, which is scheduled for May 2021 following a handover transition period. More than 20% of 888 shareholders opposed former CEO Mattingley’s continued tenure as chairman at last year’s AGM. In the interim, Mendelsohn has been appointed non-executive director and chair designate having already joined the board’s remuneration and audit committee. Mendelsohn is a gambling sector veteran with more than 20 years’ industry experience. He co-founded Oakvale Capital LLP, a leading London-based M&A and boutique strategic advisory firm focused on gaming, gambling and sport. Oakvale has advised gambling companies including The Stars Group and BetVictor and aided the deal for 888 to acquire its proprietary sports betting platform from BetBright for £15m in 2019.

Mattingley said of the appointment: “We are delighted that Jon has accepted the offer to join the board and become the next chairman of 888. “Jon has tremendous knowledge of the global online gaming industry, extensive deal-making experience and fantastic leadership qualities. “I am very confident that the board will benefit significantly from Jon’s vast understanding of our sector as the group continues its exciting long-term development,” he added. Mendelsohn also co-founded LLM Communications, a corporate and public affairs consultancy which helped him forge a strong advisory relationship with former Prime Minister Tony Blair. The 53-year-old is an investor in early stage and start-up companies in areas ranging from technology to energy and a Labour life peer who has sat in the House of Lords since October 2013. He is married to Lady Mendelsohn, a former advertising agency executive who now runs Facebook’s operations in Europe, Africa and the Middle East. Mendelsohn said: “I am very excited to join the board of such a world-class gaming operator. 888 is a company that I have long admired during my more than 20 years working with companies in the gaming and gambling industries. “The group has a number of very exciting opportunities and I am looking forward to working closely with the board and the management team to continue to deliver the group’s growth strategy and generate further stakeholder value,” he added.