Genius Sports to reorganize board following Apax departure

Genius Sports to reorganize board following Apax departure

Article brief provided by SBC News
  • Ted Menmuir, SBC News
April 2, 2024 9:01 PM

Genius Sports has informed investors that it will review the membership of the board of directors of the NYSE-listed sports, media, data rights, and technology group following the resignation of Gabriele Cipparrone.

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Effective from 8 April, Gabriele Cipparrone of the London-based private equity fund Apax Partners will resign, leaving Genius Sports’ board without a representative from Apax. The decision follows a reduction in holdings in Genius Sports by funds advised by Apax through a secondary sale on 1 April 2024.

An investor of Genius Sports since 2018, Apax is reported to hold a shareholding of 14.9% in the NYSE technology group valued at approximately $230m (as of 31 March).