Codere - comment

New Company, New CFO: Codere exited the restructuring in November establishing a new holding company. Today they announced a “new” CFO. The current CFO is leaving the business after 15 years at Codere, and Codere has promoted internally Emilio Martinez, who previously was the head of Corporate Treasury.

The news of resignations and changing of the guards is not unusual after restructurings, and Codere are no different. The business now has new equity owners (former bondholders) and the focus will be on FY22 and FY23 trading as Codere attempts to return to pre-Covid levels.