The London-listed business has announced that Kenneth Chan will be replacing Peters as a member of Zeal’s supervisory board. Peters, who currently owns 4.46% of Zeal stock, has resigned from his position. Chan, a Yale graduate and managing director at London-based hedge fund manager Working Capital, has been appointed on an interim basis by the Hamburg Local Court until Zeal’s annual general meeting later this year.
Peters rejoined Zeal in 2019 after being a vocal supporter of the group’s acquisition of Tipp24, a lottery business that was spun off from the wider Zeal group in 2012. Peters had co-founded Tipp24 in 1999. The acquisition of Tipp24 was completed in May 2019, and Peters took up his supervisory board membership a month later. The supervisory board is responsible for advising on and overseeing the work of the management board and approving measures of fundamental importance to the business. Peters also served on the investment committee and special committee.
Aside from his role at Zeal, Peters has been managing director of German real estate company Haus & Hof Hamburg since 2012 and is a partner at Elbe Venture Capital.
In its most recent trading update, Zeal reported a 10% increase in transaction volume to €544.4m in the first nine months of 2022. Revenues also grew by 14% to €74.5m, with EBITDA increasing by 25% to €22.0m. Through its subsidiary Lotto24, Zeal brokers customers’ tickets to state lottery companies and charity lottery operators using the portals Lotto24 and Tipp24.
