Snai president Sandi replaces Bortoli as CEO
Chief executive steps down after around 18 months in charge " replaced by Snai president (and former Sisal CEO) Giorgio Sandi.
Snai has announced that president Giorgio Sandi will become the Italian operator’s new chief executive following the resignation of Stefano Bortoli.
Bortoli announced that he will step down from the CEO position earlier this month, and will officially leave his role after the company’s annual general meeting, scheduled for 26 April, after which Sandi will take charge of the company. A statement released by Snai revealed that Bortoli, who has held his role for just over 18 months, will leave as he is “interested in evaluating new personal prospects.”
Sandi, his replacement, has served as chairman since January 2012, replacing long-term incumbent Maurizio Ughi, and previously spent 18 years as CEO of rival Italian operator Sisal, leaving the company in June 2008.
The move comes after Snai endured a difficult 2012 which saw group revenues for the fourth quarter of the year fall 12% year-on-year to 105.7m, while losses before tax grew to 18.1m, despite amounts wagered online doubling to 663m over the period, attributed in part to the introduction of cash poker in Italy.
The company has also signed a series of supplier deals following the licensing of new products including virtual sports and roulette with Inspired Gaming and GameAccount respectively.