Kindred Group announces the formation of its nomination committee
Newly created committee will comprise four members plus the Swedish operator’s chairman, Evert Carlsson
Kindred Group has unveiled a five-member nomination committee to represent all shareholders and make recommendations to the board ahead of the group’s annual general meeting next year.
The members include Cedric Boireu from Premier Investissement SAS, Peter Lundkvist of the Third Swedish National Pension Fund and Anders Ström from Veralda Investment and who founded Kindred (then Unibet) in London in 1997.
As well as Kindred’s chairman of the board, Evert Carlsson, co-opted to the committee, Keith Meister, the founder of the activist investor group Corvex Management, is also involved.
This appointment comes after Corvex became the Unibet parent company’s largest shareholder in August and actively pushed the board to sell up.
When the investment firm took a 15% stake it asked to be involved in the next nomination of its next board. Meister will also take on the role of chairman of the nomination committee.
Corvex originally grabbed headlines in May when it acquired a 10.12% share of Kindred and began calling for the board at the Stockholm-listed firm to sell.
At the time, the Kindred board stated that it was “fully committed” to the operator’s current strategic direction.
Corvex also called for the appointment of an independent entity when it increased its shares in Kindred, which this new committee appears to fulfil.
Earlier this month, Kindred announced it is targeting £1.6bn in revenue for 2025 driven by “underlying growth and market share gains”.