Corporate bodies

Board of directors


Lottomatica Group’s governance takes the form of a Board of Directors with members who satisfy the requirements stipulated by the provisions of law and who remain in office for a maximum of 3 financial years. The Board of Directors is chaired by the Chairman of the Board.

Andrea Moneta
Chairman

Andrea Moneta is Senior Advisor for Italy and Operating Partner Financial Services at Apollo Global Management since 2015. In these capacities, he promotes and coordinates Apollo’s businesses in the Italian market, and serves on the Boards of the affiliates/portfolios companies Athora Italy (Chairman), Lottomatica (Chairman), Reno De Medici (Chairman) and SLS Holdco d.d. (Member). 

Before joining Apollo Mr. Moneta worked, inter alia, as: Executive Member of the Board of Directors and CEO EMEA for Aviva Plc; Group Deputy CEO, CEO Central and Eastern Europe; CEO Private Banking and Asset Management, and Group CFO for UniCredit SpA; Head of Strategic Planning for the European Central Bank. 
He also held executive and non-executive board positions in more than 35 listed and non-listed companies across several Western European countries, CEE, Ukraine, Russia, Turkey and the Middle East.

Mr Moneta holds honours degrees in Politics and Economics and in Business Administration from the University Federico II and is qualified as Dottore Commercialista (Ministry of University and Research) and Revisore Contabile (Ministry of Justice).

Guglielmo Angelozzi
CEO

Guglielmo Angelozzi started his journey in Lottomatica (Gamenet at the time, owned by Trilantic Capital Partners) in August 2014 as Chief Executive Officer of the group.

He led the development of the company and the entry of the Group into the sports betting and online sector through the acquisition of the Italian activities of Intralot, the listing on the STAR segment of the Milan Stock Exchange in 2017, and the acquisition of GoldBet.

With the acquisition of the group by Apollo Global Management and the subsequent delisting of the company in 2020, he continued as CEO of the group, which expanded through the acquisition of IGT's non-lotteries gaming activities in Italy, Betflag and SKS365*. 

The group, listed on Euronext Milan of Borsa Italiana since May 2023, is today the leader in the gaming market in Italy, having grown over the past ten years from approximately €60 million to around €700 million in EBITDA and from about 200 to over 2,500 employees (pro forma for the latest acquisitions and related synergies).

Also, within the entertainment sector, Angelozzi has been Chairman for three years of the trade association of gaming concessionaires ACADI, (formerly part of Confindustria Servizi Innovativi e Tecnologici, now in Confcommercio) and has held various roles at IGT.

Before entering the gaming industry, Angelozzi worked at the management consulting firm Bain & Company – where he managed numerous projects in Media, ICT, Pharma, and Entertainment sectors – and previously at Accenture. He graduated with honors in Engineering from the University of Bologna and obtained a Master of Business Administration from SDA Bocconi in Milan.
 
*Deal signed but not yet closed.
 

John Paul Maurice Bowtell
Director

John Paul Maurice Bowtell is an experienced director with highly relevant industry experience, having spent eight years in the gaming sector serving as Chief Financial Officer for GVC Holdings Plc, one of Europe’s largest gaming businesses, after the acquisition of Ladbrokes Coral Group Plc, where for three years he was the president at subsidiary Eurobet, one of Italy’s largest gaming businesses.

Prior to that, Mr. Bowtell was Chief Financial Officer of First Choice Holidays PLC and became Chief Financial Officer of TUI Travel PLC after its merger with First Choice Holidays PLC in 2007. He previously held a number of senior positions with Centrica, WHSmith and Forte.

Mr. Bowtell has been a Non-Executive Director of a number of listed and non-listed companies and is currently a senior advisor to Alchemy, a special situations private equity fund, where he chairs a number of their businesses. He is a chartered accountant and holds an M.A. from Cambridge University.

Nadine Faruque
Independent director

Nadine Faruque started her career as a lawyer in private practice in 1990 as an associate with Reid & Priest in the M&A department in New York and subsequently, legal consultant for Faruque Ltd, Karachi (Pakistan) before joining Baer&Karrer in Zurich,  Switzerland in September 1992 where she was a senior associate/partner elect, covering M&A, capital markets, banking and financial institutions.

In March 1998 she joined Merrill Lynch International in London where she held various senior roles in the Office of General Counsel, including that of general counsel and Head of Continental Europe. In October 2008, she took the role of General Counsel and Group Compliance Officer of the Unicredit Group where she was a member of the Unicredit Group management board as well as the Group Executive, Group Risk and Group Credit committees before joining Deutsche Bank AG Frankfurt in December 2014 as Global Head of Compliance and where she was as a member of the Group Executive Committee, the Group Risk Committee, Group Reputational Risk Committee and the Global Incident Management Committee. Following her departure from Deutsche Bank, she was a member of the Supervisory Board and the Risk Committee of Luminor AB from January 2019 to July 2019 and has been an industrial adviser of EQT Partners for compliance and regulatory matters on specific projects.

Currently she is a member of the Board of Directors of Banco BPM S.p.A. and a member of the Internal Controls and Risk Committee and serves on the Advisory Board of the MIB programme of the University Cattolica in Milan. Ms Faruque graduated from the University of Bern School of Law and holds the title of Fuersprecher and an LLM (Masters in Law) from Duke University School of Law (North Carolina); she is admitted to the Swiss as well as the New York bar.

Catherine Guillouard
Director

Catherine Guillouard started her career at the Ministry of Finance, French Treasury working for the Africa Zone Department - CFA and later in the Office of Banking Affairs. She joined Air France to prepare the IPO in 1997 and hold various senior executive positions including CFO between 2005-2007. She also held the position of Chief Financial Officer and member of the Group Executive Committee at Eutelsat, a leading satellite in Europe, the Middle East and Africa.

Subsequently, Mrs. Guillouard joined Rexel as Chief Financial Officer and Group Senior Vice President. From May 2014 to February 2017, she was Deputy Chief Executive Officer. Appointed in 2017 by decree of the President of the French Republic, she has been, up to September 2022, Chairwoman and CEO of RATP, a French public industrial and commercial body at the head of one of the major industrial groups active in the public transport sector. Previously, she has been a board member of Technicolor, Aéroport de Paris and Engie. Currently, Mrs. Guillouard is a board member of Airbus S.E. as well as Chairwoman of the Audit Committee and member of the Ethics, Compliance, Sustainability Committee.

She was a board member of KPN as well as Chairwoman of the Audit Committee and member of the Governance, Strategy Committee until April 2023. She has been appointed chairperson of the Ingenico S.A. board on September 30, 2022. Recently, it has been announced her appointment as member of the board of directors of Air Liquide S.A.

Augusta Iannini
Independent director

Augusta Iannini served as judge in Italy. During her career within the judicial system she has held numerous relevant positions, including those of investigating judge and judge for preliminary investigations. She has also served in the Ministry of Justice as Deputy Chief of the Cabinet, Director General of Criminal Justice, and Head of the Department of Justice Affairs. From 2012 to 2020, she served as vice president of the Data Protection Authority where she served as Vice President.

She is author of numerous papers and attended several conferences. In 2009 she was awarded the Bellisario Prize for Justice. She holds positions as a member of boards of companies, among which SNAM S.p.A. She is chairman of the advisory board of the Lottomatica Foundation.

Marzia Mastrogiacomo
Independent director

Marzia Mastrogiacomo is a business executive with over 25 years’ experience with multinational and national companies in different industries for complexity and stakeholders: FMCG, Financial and Payment Services, Regulated Markets and Concessions cooperating with Public Administrations. She was CEO of two public gaming concessionaires part of the IGT Group where she was responsible for Lotto and Gratta & Vinci business.

In recent years, after taking a specific training at business schools of Cambridge and Berkeley, Ms. Mastrogiacomo has been mastering Sustainability, Innovation and Digital Transformation impacts and opportunities for corporations. She is strategic consultant with specific focus on the integration of ESG issues in business strategies, organizations, and corporate operational processes.

Gaia Mazzalveri
Independent director

Gaia Mazzalveri has 30 years of experience in Investment Banking and Financial Markets. Ms Mazzalveri has an important track record in mergers and acquisitions, ECM and DCM transactions in the Financial Institutions sector, having assisted all the main financial, banking and insurance companies, private equity funds, companies operating in the para-Banking sector, Banking Foundations and institutions particularly in Italy, as well as operating in some industrial sectors.

Ms Mazzalveri was Co-Head of Investment Banking at Equita Sim, Assistant to the Chief Executive Officer at Banco Popolare, Executive Director at Morgan Stanley, Head of FIG at Mediobanca and Senior Associate at Ernst & Young. She was also a member of the Board of Directors of Atlantia, Datalogic, Alba Leasing, Bormioli Rocco and Esperia SGR. In 2020 Ms. Mazzalveri joined Vitale&Co. S.p.A. as partner.

Michele Rabà
Director

Michele Rabà is a Partner at Apollo having joined in 2010. Since he joined Apollo, Mr. Rabà has been involved in various private equity transactions, including Gala Coral, Braas Monier, Watches of Switzerland, Nova KBM d.d., Oldenburgische Landesbank AG, Gamenet Group, Lottomatica, Reno De Medici, Allwyn AG (formerly known as Sazka Entertainment AG) and Ingenico Group. Mr. Rabà currently serves as a director of Poseidon Holdco S.A.S. (Ingenico Group), Reno De Medici S.p.A., Oldenburgische Landesbank AG, Biser Holdings Limited, SLS Holdco, holdinška družba, d.o.o. and Lottomatica S.p.A. 

Mr. Rabà is a former board member of Watches of Switzerland, Nova KBM d.d., Abanka d.d., Allwyn AG / Allwyn International a.s., and KBS Banka d.d., among others. Prior to joining Apollo, Mr. Rabà was with Goldman Sachs International in the Financial Institutions Group within the Investment Banking Division, based in London.

Mr. Rabà graduated from Bocconi University where he earned both his BA in Financial Institutions and Markets and his MSc in Finance. In 2019, Mr. Rabà was selected by Private Equity News and Financial News as one of the 25 rising stars of European private equity.

Michael Ian Saffer
Director

Michael Ian Saffer is a Senior Principal in the London Private Equity team at Apollo, having joined in 2015. Prior to joining Apollo, he was a member of the M&A group at Credit Suisse in London. Mr. Saffer has been involved in various private equity transactions, including Oldenburgische Landesbank, Catalina Holdings (Bermuda) Limited, Aspen Insurance Holdings Limited, Covis Group S.à r.l and Lottomatica.

Mr. Saffer is currently also on the board of directors of Aspen Insurance Holdings Limited, Gamma Intermediate s.à r.l., and Highlands Bermuda Holdco Ltd., Mr. Saffer graduated from the University of Nottingham with a BSc in Economics.

Yulia Shakhova
Director

Yulia Shakhova is a Principal in the London Private Equity team at Apollo, having joined in 2018. Prior to that time, Ms. Shakhova was a member of the Financial Institutions Group at Citigroup Global Markets, spending time both in London and New York. Ms. Shakhova has been involved in various private equity transactions, including Nova KBM, Gamenet, Lottomatica, and Ingenico. Ms. Shakhova is currently also on the board of directors of Poseidon Holdco S.A.S. and Summit Leasing Slovenia Holdco d.o.o.

Ms. Shakhova graduated from University of London, London School of Economics International program with a First Class Honors BS degree in Banking and Finance and received her Master’s degree in Finance/Asset Management from Brandeis International Business School.

Four committees have been established within the Board of Directors: Control and Risk Committee; Nomination and Remuneration Committee; Related Party Transactions Committee and ESG Committee.

In particular, the Board of Directors decided to assign to the Control and Risk Committee the duties set out in Article 6 of the Italian Corporate Governance Code, including the task of assisting the Board of Directors with investigative, proposal-making and advisory functions in evaluations and decisions relating to the internal control and risk management system, as well as in the approval of periodic financial reports. In addition, the Committee has been entrusted with overseeing the application of European and Italian regulations on privacy and personal data protection pursuant to Regulation (EU) 2016/679.

The Committee is composed of three members, all non-executive, two of whom are independent. Within the committee, one of the members, the Chairman Gaia Mazzalveri, has the required knowledge and experience in accounting and finance and risk management. 

The chart "Skills dissemination among the members of the Board of Directors of Lottomatica Group" shows the professional skills of the members of the Board of Directors.

Skills dissemination among the members of the Board of Directors of Lottomatica Group


                          Intra-Board committees


The intra-board committees, each for the matters of its own competence, carry out investigative, propositional, and advisory support tasks for the Board of Directors, assisting it with the assessments and decisions to be made.

Audit and Risk Committee

Remuneration and Appointments Committee

Gaia Mazzalveri (Chairman)
John P.M. Bowtell
Augusta Iannini

Nadine Faruque (Chairman)
Marzia Mastrogiacomo
Michele Rabà

Related Parties Committee

ESG Committee

Augusta Iannini (Chairman)
Nadine Faruque
Gaia Mazzalveri

Marzia Mastrogiacomo (Chairman)
Nadine Faruque
Catherine Guillouard



Board of auditors


The Board of Auditors has the function of supervising the activity of the Company and consists of 5 members of whom 3 are standing auditors and 2 alternate auditors. All the auditors meet the requirements of professionalism, integrity and independence that is required under the provisions of applicable law. The Board of Auditors is completed by Dr. Angela Frisullo and by Dr. Alberto Incollingo as substitute auditors.

Andrea Lionzo
Chairman

Andrea Lionzo is full professor of Business Administration at the School of Banking, Finance and Insurance Sciences at Università Cattolica del Sacro Cuore, Milan. He is a Chartered Accountants and Auditor. He holds a PhD in Business Administration from Ca' Foscari University and a Master in Business Administration from Fondazione CUOA. He previously graduated with honors in Business Administration from University of Verona. His main professional and research interests focus on financial accounting, corporate governance and business valuation. He is the author and co-author of numerous books and articles on these topics. 

He has gained significant experience in the field of company valuations and corporate operations of an extraordinary nature, in assistance in legal matters brought before judicial authorities or arbitration panels, in corporate information (financial and consolidated financial statements, interim reports, sustainability), as well as in technical consultancy in civil and criminal matters.

He is a member of the Academic Panel of the EFRAG (European Financial Reporting Advisory Group), of the IFRS Group of the OIC (Organismo Italiano di Contabilità) and of the Advisory Board of the OIBR Foundation (Organismo Italiano di Business Reporting, focused on ESG). 

He is member of the Board of Statutory Auditors of Cereal Docks S.p.A. and Palladio Group S.p.A., and Chairman of the Board of Statutory Auditors of Federlegno Arredo Eventi S.p.A. and Schenker Italiana S.p.A., and he is independent director of Payden Global SIM S.p.A.

Giancarlo Russo Corvace
Member

Giancarlo Russo Corvace is enrolled in the order of chartered accountants and accounting experts of Rome and in the register of auditors. Mr. Corvace serves as a member of the board of statutory auditors of Reno de Medici S.p.A., Italiaonline S.p.A., Acea Energia S.p.A., Feralpi Holding S.p.A. and Feralpi Siderurgica S.p.A.. Moreover, he was involved in the A.S. Roma S.p.A. IPO, privatization of Aeroporti Roma S.p.A., transfer of Biondi-Santi S.p.A. and other restructuring and project financing transactions. 

He graduated in economics from the Libera Università degli Studi Sociali of Rome and holds a master’s in business administration from University of Turin.

Veronica Tibiletti
Member

Veronica Tibiletti is full professor of Business Economics at the University of Parma after obtaining a degree in Economics and Commerce and a PhD in Determination and Communication of value in companies at the University of Parma. He is President of the master's degree course in Administration and Business Management at the University of Parma.

She is the author of numerous publications in national and international journals on corporate governance and sustainability and a speaker at conferences particularly on ESG issues. She is a member of the Editorial Committee of international journals. Ms. Tibiletti has participated in Projects of Significant National Interest (PRIN) on international accounting standards and the economics of business groups.

Ms. Tibiletti is a member of the Scientific Technical Committee of the Association "Italian Network of Universities and Research Institutions for Public Engagement - APEnet", designated by ACRI (Association of Foundations and Savings Banks). She is also member of the ACRI Sustainable Development Commission. Ms. Tibiletti has been appointed representative of the University of Parma in the "University for Industry (U4I)" WG, established by the RUS - Network of Universities for Sustainable Development.

Ms. Tibiletti is a chartered accountant and statutory auditor. She has held and still holds positions in the administrative and supervisory bodies of relevant Italian companies and associations. In particular, he is currently an independent director of CDP Real Asset SGR and a member of the board of auditors of the Fondazione Cariparma.

Supervisory board


The Supervisory Board consists of the following members: Francesca Rosetti (Chair), Stefano Baduini and Valentina Lazzareschi.

The Supervisory Board oversees the proper functioning of and compliance with the Model adopted pursuant to Legislative Decree No. 231 of 8 June 2001 for the prevention and exemption of the Company from administrative liability arising from criminal offences. The Supervisory Body is granted with autonomous powers of initiative and supervision, and is also responsible for constantly updating the Model.

External auditors


As provided for by the applicable regulations, the external audit company was entrusted for the duration of nine financial years starting from 2023 to PriceWaterhouseCoopers, listed in the special register, appointed for this purpose by the shareholders' meeting. PwC was the external audit company also prior to the listing. 

The compensation for the external audit service is € 1,205,000.00 plus VAT for each financial year.