888 has appointed a boss weeks after its licence was placed in jeopardy over Kenny Alexander’s grab for power.
Per Widerstrom, the former head of Eastern European gambling group Fortuna, will take over as chief executive of the betting giant in October.
Earlier this month, investment vehicle FS Gaming, backed by former Entain boss Alexander has put him forward as chief executive.
New boss: Per Widerstrom will receive annual fixed pay of £676,000
FS Gaming – which owns a 6.6 per cent stake in 888 – also pushed for Lee Feldman and Stephen Morana to be named as the chairman and chief finance officer. Both held senior roles at GVC before it was rebranded Entain in 2020.
But 888 rejected the changes over fears that the gambling watchdog could revoke its licence or fine it.
Regulators had expressed concerns over the changes because of the ongoing four-year HMRC investigation over possible breaches of the Bribery Act from Entain’s former subsidiary in Turkey.
Roberta Ciaccia, an analyst at Investec, said Widerstrom was a good pick for the 888 boss.
The 57-year-old will receive annual fixed pay of £676,000 and will be eligible to receive bonuses and performance share plan awards.
888 executive chairman Lord Mendelsohn said Widerstrom ‘was the clear standout candidate to lead the group’.
