Lottomatica has completed a fresh shake-up of its boardroom, selecting two new independent directors as the business continues to fine-tune its business governance.

The announcement was made in Rome on 5 September and follows a busy summer of changes. Earlier this year, Chairman Andrea Moneta and Non-Executive Directors Michele Rabà, Michael Saffer and Yulia Shakhova all stepped down from their positions.

Their departures were partially balanced out in July, when the board added Laurence Van Lancker and Alessandro Fiumara as Executive Directors.

The newest upgrade sees Tiziana Togna and Fabrizio Virtuani join the board as independent, non-executive directors. Both have been assessed under Italian law and the Corporate Governance Code to guarantee they fulfill all independence requirements.

A company statement worried that "the co-optation procedure completes the renewal of the board and reinforces business governance through the appointment of two extra independent directors and the reorganisation of board committees".

Committee modifications

The brand-new arrivals have actually also triggered a reshuffle of Lottomatica's internal committees. Augusta Iannini, who already chairs the Related Parties Committee and rests on the Risk and Control Committee, has been handed additional tasks on the Nomination and Remuneration Committee.

Meanwhile, the Related Parties and Risk and Control Committees have actually both been broadened from three to 4 members. Togna will serve on the Related Parties Committee, while Virtuani has been included to the Risk and Control Committee.

Both directors will hold their seats till the next shareholders' meeting, set up for April 2026, when the full board is due to be restored. Lottomatica verified that neither Togna nor Virtuani own shares in the business.

Strong performance backdrop

The governance refresh begins the back of a record year for the Milan-listed gambling group. In its 2024 outcomes, Lottomatica reported adjusted EBITDA of EUR739m, a 24% rise on 2023 and comfortably ahead of its own assistance.

Total GGR for the year surged past EUR2bn for the very first time in company history, fuelled by fast development throughout online wagering and gaming.

Online earnings struck EUR780m, a 50% increase on the prior year, helped by the acquisition of SKS365Group and its Planetwin365 brand name. Further M&A saw the company purchase Cristaltec SPA and Distante SRL, deepening its existence even further in the Italian market.