ZEAL Network SE appoints new Supervisory Board member

Boardroom; ZEAL Network SE announce changes
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German online lottery provider ZEAL Network SE has today confirmed the appointment of Kenneth Chan as the latest member of its Supervisory Board.

Chan is the Managing Director of Working Capital and joins ZEAL on an interim basis until its Annual General Meeting later this year.

The Yale University graduate arrives as a replacement for the recently-departed Co-Founder Marc Peters, who resigned from his role as a member of the Supervisory Board.

As listed on its website, the Supervisory Board of ZEAL Network SE consists of six members, including the newly-appointed Chan.

The other five are: Peter Steiner (Chairman); Oliver Jaster (Deputy Chairman); Thorsten H. Hehl (Member); Jens Schumann (Member); and Frank Strauß (Member).

The supervisory board is responsible for advising on and overseeing the work of the management board.

Meanwhile, the firm’s Board of Directors recently approved a public buyback offer for up to 714,285 shares of the company, corresponding to up to around 3.2% of the share capital, as it continues to strive for growth.

The announcement came just before publication of its Q3 accounts, which showed a 14% rise in revenues over the nine-month period ended Sept. 30.

The group achieved €74.5m in revenues, an increase of €9.4m on the prior year’s figure of €65.1m.

ZEAL also increased its transaction volume by 10% in the first nine months of 2022, moving from €493.2m in 2021 to €544.4m last year.