Stéphane Pallez Continues as FDJ’s Chairwoman and CEO
La Française des Jeux (FDJ), France’s leading gambling operator, has reappointed Stéphane Pallez as Chairwoman and CEO, following a resounding approval at their recent Annual and Extraordinary Ordinary General Meeting on April 25. Shareholders displayed robust support for Pallez, with a remarkable 94.2% voting in favor of extending her leadership for another four years.
Leadership
Since taking the helm in 2014, Pallez has been instrumental in spearheading FDJ’s growth and strategic initiatives. Under her leadership, the company has not only expanded its market share to 13% but also tripled its turnover since 2019.
Her tenure has been marked by significant acquisitions, including Premier Lotteries Ireland and the ZEturf group in 2023, and the ongoing strategic acquisition of Swedish gaming giant Kindred.
Prior to her role at FDJ, Pallez served as the CEO of Caisse Centrale de Réassurance (CCR) from 2011 to 2014 and has a distinguished history with the Ministry of the Economy, Finance, and Industrial and Digital Sovereignty, where she served for over 13 years.
Board and Auditor Appointments
In addition to Pallez’s reappointment, the meeting saw the reelection of directors Olivier Roussel, Jacques Sonnet, and Florence Barjou, along with the new appointment of David Chianese, representing employee shareholders.
Deloitte & Associates along with PricewaterhouseCoopers were also appointed as auditors, ensuring the company’s financial oversight remains in trusted hands.
Share Buyback Program and Financial Highlights
FDJ also initiated a new share buyback program under the conditions outlined in their 17th resolution. This program is supported by FDJ’s existing liquidity agreement with Exane, reinforcing the company’s financial strategy.
The first-quarter results revealed a 7.2% increase in total revenue, reaching EUR 710 million. This growth was primarily fueled by operations within France and an expanding iGaming segment, which now contributes 15% to the overall turnover.
Addressing Market Dynamics
Looking ahead, FDJ is slightly behind its 2024 revenue growth target of 8%. However, the upcoming European Championships and the Olympic Games in Paris are expected to provide significant opportunities for growth.
Additionally, despite concerns about potential advertising bans in the Netherlands, FDJ remains confident that its acquisition of Kindred will proceed without disruption, suggesting that a blanket ban might even benefit market leaders.
