Ader looks to shake up bwin.party with board replacements

Activist Investor Spring Owl, the investment vehicle that acquired 5.3% stake in igaming operator bwin.party , put fourth their selection of board representatives it feels will drive the operators performance forward.

Spring Owl, headed by  investment and equity banker Jason Ader are currently the operators second largest investor after purchasing its bwin.party shareholdings at the start of 2014. Spring Owl’s position has afforded the investment vehicle the right to influence the appointment of bwin.party board of governance.

The proposed four board members will bring significant corporate, financial and technological knowledge to bwin.party operations needed for the company to achieve growth in the regulated US market.

Ader has stated publically that there has been shareholders concerns regarding the current direction and management of bwin.party growth strategy, performance and product development.

Ader has further stated that his efforts to shake up bwin.party are geared towards seeing the company achieve a ‘higher share price’. The investor believes that the operator could double its share price, if it  undertakes the correct strategic decisions in the coming months.

News sources suggest that Ader has submitted the names of Michael Fertik (CEO of Reputation.com), financial lawyer Francis Grady, technology venture financiers Kalendu Patel and Steven Ritto.

Aders proposal is set to be discussed at bwin.party’s annual general meeting held in Gibaltar on May 22.