Tipico Group, a leading German sports betting provider, has appointed Axel Hefer as CEO.

Formerly COO at Tipico, Axel will succeed outgoing CEO Joachim Baca, who after eight successful years at the helm of the company is taking over as chairman of the Supervisory Board.

As the new CEO, Axel aims to “further enhance Tipico’s product excellence and technology leadership and further drive innovation  to further strengthen Tipico Group’s market-leading position and foster further sustainable growth in a rapidly evolving market environment”, the company said in a statement.

Daniel Pindur, Managing Partner of CVC and former chairman of the Supervisory Board of Tipico Group, said, “Over the past eight years, Joachim has done a remarkable job in advancing the development  of Tipico and establishing it as an international sports betting and technology company. We are grateful for his outstanding contributions and are pleased that he will continue to play a key role as Chairman of the Supervisory Board. At the same time, we are delighted to have Axel as an experienced strategist and manager on board with Tipico. In his role as COO, Axel has proven he has the capabilities and vision to continue Tipico’s successful trajectory. We look forward to working together.”

On his part, incoming Tipico CEO Axel said, ”In recent years, the company has evolved from a startup to the definitive market and technology leader in sports betting in Germany. I am eager to continue this success story with the Tipico team and the owners. Together we are committed to providing sports fans with the best and most secure betting experience, extending our market leadership, and achieving additional sustainable growth.”

Joachim further commented that: “Leading Tipico on its strong growth path, building structures and expanding the product portfolio has been a great privilege. We have thus set the stage for a prosperous future. I am proud of our collective accomplishments and look forward to remaining a part of the team and continuing to contribute to the ongoing success as Chairman of the Supervisory Board. I would like to express my gratitude to all my colleagues and the owners of Tipico for their trust and the exceptional collaboration.”

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