May 16, 2014 / 10:02 AM / 4 years ago

Bwin to shake-up board after activist pressure

LONDON, May 16 (Reuters) - Online gambling company Bwin.Party said on Friday it would hire three new independent directors to strengthen its board after pressure from an American activist investor for change.

Deputy chairman Rod Perry and fellow directors Manfred Bodner and Helmut Kern would step down once the new arrangements were in place, the company said.

U.S. activist investor Jason Ader has been seeking to get four nominees on to the board at the company’s annual meeting to be held next week, saying the current management had failed to deliver the benefits of a 2010 merger which created the company.

Bwin urged shareholders to vote against the nominees put forward by Ader’s SpringOwl vehicle. (Reporting by Keith Weir, editing by James Davey)

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