Pro-sale Meister to help pick Kindred board as nomination committee chair

| By Robert Fletcher
Kindred Group has announced the formation of its Nomination Committee with Keith Meister, the founder of activist investor Corvex Management, to serve as chairman.
Lottery.com

The five-member committee, appointed by Kindred’s largest shareholders as of the end of August 2022, will represent all shareholders and recommend board members ahead of the group’s 2023 AGM.

Serving alongside Meister will be Cedric Boireau from Premier Investissement SAS, Peter Lundkvist of the Third Swedish National Pension Fund, and Anders Ström from Veralda Investment Ltd.

Kindred’s chairman of the board, Evert Carlsson, was also co-opted to the committee.

Confirmation of the committee comes after Corvex – which has pushed the board of Kindred to pursue a sale – became the largest shareholder of the Unibet operator in August this year, now holding a 15.0% stake.

At the time, Corvex asked to be involved in the nomination of its next board of directors, which has been reflected in Meister taking on the leading role in the Nomination Committee.

Corvex made a splash when it announced it had acquired an initial 10% stake in Kindred, and then immediately called on the board to pursue a sale.

iGB understands that the Kindred board did then reach out to other operators and private equity businesses, but was unable to find an interested buyer at the current price. Corvex then upped its stake in the group.

Earlier this week, Kindred also announced that it will remain in the Norwegian market and appeal regulator Lotteritilsynet’s decision to impose daily fines on its operations.

Lotteritilsynet earlier this month announced that it would pursue the fines for every day its Trannel subsidiary continues to operate in Norway. The fine would come into effect three weeks from the day the regulator decided to issue it – which would be 5 October.

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