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Codere Coup Ousts Founder As CEO, Chairman

Codere’s board of directors voted on Friday to appoint a new CEO and chairman, removing co-founder José Antonio Martínez Sampedro from the roles.

The changes come nearly two years after a restructuring of Codere’s debt-load reduced Martínez Sampedro’s shareholding to just 14 percent and effectively handed control of the company to a grouping of institutional investors.

Codere’s board will now be chaired by Norman Sorensen Valdez, a former Citigroup executive who was first appointed a director at the conclusion of the restructuring process.

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