The New York-based activist investor Jason Ader (pictured) is taking on bwin.party by proposing four directors for the board of Bwin, the parent company of PartyPoker and others, through his company SpringOwl Asset Management.
SpringOwl is the second-largest holder in Bwin with a 5.25 per cent share and Ader hopes to expand the current nine-person board to 13.
The candidates proposed are lawyer Francis Grady, venture capitalist Kalendu Patel, gaming industry specialist Steven Rittvo and entrepreneur Michael Fertik.
In the past, Ader has been critical of Bwin’s performance and of the 2011 merger with PartyGaming. Ader is reportedly not seeking to topple bwin.party CEO Norbert Teufelberger.
