Exclusive: Better Collective announces restructure with co-CEO model
Affiliate’s co-founder and COO Christian Kirk Rasmussen to become co-CEO with Jesper Søgaard, as company also lays out future investment, M&A and business structure plans
Better Collective COO Christian Kirk Rasmussen is set to become the affiliate’s co-CEO alongside existing boss Jesper Søgaard as part of a restructuring of the business, EGR can exclusively reveal.
Kirk Rasmussen, who co-founded the Danish firm alongside Søgaard more than 20 years ago, will step up from his COO role.
As part of the transition, Better Collective will also be shifting its organisational structure away from a current geography-based model and into three new core verticals: Publishing, paid media and esports.
EGR understands that each division will be managed by new business unit leaders, with Kirk Rasmussen taking a step back from his day-to-day responsibilities and focusing on long-term strategy.
The affiliate is also planning to invest more funds into what it deems core brands, led by flagship brands, including Action Network.
Those core brands have been identified as having the potential to drive the most growth over the next 10-year period, with the planned shift in structure having been in the pipeline for several years.
A business synonymous with M&A, having completed more than 35 transactions since 2017, Better Collective will also begin to take a more selective approach to inorganic growth.
Last year, the dual-listed company splashed €42m on UK affiliate AceOdds, having previously acquired Action Network for $240m and Playmaker Capital for €176m.
While the company will not rule out future M&A, the plan to invest in existing brands, including deploying further funds into AI, will take priority.
The shift comes after the affiliate was able to beat its adjusted guidance for full-year 2024, after realigning its forecast following slowdowns in Brazil and the US.
Speaking to EGR, Søgaard noted that after M&A allowed the company to execute a “land grab” and establish operations across multiple global markets, now was the time to consolidate.
He said: “We knew that eventually we wanted to realise the potential that we have inside the company. On the back of all those acquisitions, we have the structure [to do so].
“By setting ourselves up in this way, we allow for a leaner and more effective allocation of resources to core brands, aligning ourselves with the vision of becoming the leading digital sports media group.”
On stepping up to the co-CEO role, Kirk Rasmussen added: “Throughout the years, I’ve basically had all the roles in the company, and CEO is the role I’ve never had.
“I’m excited. In the past, I’ve been in the daily operations, but now I am able to free up my time and take a more forward-looking approach to our growth.”
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.