FDJ shareholders reappoint Stéphane Pallez as Chairwoman and CEO

French gambling operator La Française des Jeux (FDJ) reappointed Stéphane Pallez as Chairwoman and CEO during the company's Annual and Extraordinary Ordinary General Meeting on April 25. Shareholders supported Pallez's continued leadership with 94.2% approving her four-year extension.

Pallez has been at the helm of FDJ since 2014, overseeing its growth and strategic initiatives. Under her leadership, FDJ has expanded its market share, reaching 13% and tripling its turnover since 2019.

Pallez's tenure has also been marked by key acquisitions, including Premier Lotteries Ireland and the ZEturf group in 2023, and the ongoing acquisition of Swedish gaming heavyweight Kindred.

Before joining FDJ, Pallez worked between 2011 and 2014 as CEO of Caisse Centrale de Réassurance (CCR). She also served the Ministry of the Economy, Finance, and Industrial and Digital Sovereignty for over 13 years.  

In addition to Pallez's reappointment, shareholders also reelected three other directors, namely Olivier Roussel, Jacques Sonnet, and Florence Barjou. Additionally, David Chianese was appointed as a director representing employee shareholders.

The meeting also saw the appointment of Deloitte & Associates and PricewaterhouseCoopers as auditors for FDJ.

Among the other approved resolutions was the initiation of a new share buyback program, following the fulfillment of conditions outlined in the operator's 17th resolution. This program will be facilitated through FDJ's existing liquidity agreement with Exane.

FDJ's Q1 results were also discussed during the meeting, revealing a 7.2% increase in total revenue to EUR 710 million (approximately $760 million). The majority of this revenue was attributed to operations within France, while the company's iGaming segment continued its growth trajectory, contributing 15% to the turnover.

FDJ had previously set a target of 8% revenue growth for 2024. While it fell slightly short of this goal in Q1, the upcoming sports schedule, including the European Championships and Olympic Games in Paris, may provide opportunities for FDJ to meet its objective.

Addressing concerns regarding potential advertising bans in the Netherlands, FDJ expressed confidence that such measures would not impede its acquisition of Kindred. In fact, FDJ suggested that a blanket ban could benefit market leaders like Kindred and potentially bolster its business.

The company added that its next general meeting will be held on Thursday, May 22.