Magnus von Zitzewitz exits Lotto24

People News

Magnus von Zitzewitz, CEO of Lotto24 AG the leading German provider of state lotteries on the Internet, will be leaving the company by 30 June 2019 on the best of friendly terms.

The newly constituted Supervisory Board following the Annual General Meeting on June 4, 2019, regrettably complied with its desire to dissolve the appointment that expires on April 30, 2020 in advance. After seven years as a member of the company’s executive board, Zitzewitz wants to devote himself to new professional tasks. As a result, he will not join the board of ZEAL Network SE, which has been the majority shareholder of Lotto24 AG since the takeover in May 2019.

Together with the CEO Petra von Strombeck, Magnus von Zitzewitz led Lotto24 AG to the stock market in 2012 as part of a spin-off from Tipp24 SE (now ZEAL) as an independent company without ongoing business. Since then, the company has grown dynamically: In the financial year 2018, Lotto24 achieved a transaction volume of more than EUR 320 million with around 2.2 million customers. Since the IPO, the company’s market capitalization has increased more than tenfold to around EUR 330 million.

“The Supervisory Board would like to thank Mr. von Zitzewitz for his very successful work in the development and expansion of Lotto24 AG as the undisputed market leader in online lottery brokerage in Germany”, says Peter Steiner, Chairman of the Supervisory Board of Lotto24 AG. “The Management Board and the Supervisory Board wish him continued success and good luck, both professionally and personally.”

As successor to Magnus von Zitzewitz, the current CFO of ZEAL, Jonas Mattsson, will be responsible for the finance department at Lotto24 as of July 1, 2019.