Tipico appoints new CEO as Joachim Baca moves to chairman role

German sports betting provider Tipico Group has named Axel Hefer as chief executive officer to succeed Joachim Baca.

Hefer has served as chief operating officer (COO) at Tipico since November 2023 and takes over as CEO from Baca, who has served in the role for eight years and will now become chairman of the Supervisory Board.

Hefer's previous roles include executive positions at travel search engine Trivago and German online furniture retailer Home24. He also currently serves as chairman of German football club FC Schalke 04.

“Over the past eight years, Joachim has done a remarkable job in advancing the development of Tipico and establishing it as an international sports betting and technology company,” said Daniel Pindur, managing partner of Tipico owner CVC and former chairman of Tipico’s Supervisory Board. “We are grateful for his outstanding contributions and are pleased that he will continue to play a key role as chairman of the Supervisory Board.

“At the same time, we are delighted to have Axel as an experienced strategist and manager on board with Tipico. In his role as COO, Axel has proven he has the capabilities and vision to continue Tipico’s successful trajectory. We look forward to working together.”

Commenting on his appointment, Hefer said: “In recent years, Tipico has evolved from a startup to the definitive market and technology leader in sports betting in Germany. I am eager to continue this success story with the Tipico team and the owners.

“Together we are committed to providing sports fans with the best and most secure betting experience, extending our market leadership, and achieving additional sustainable growth.”

Outgoing CEO Baca added: “Leading Tipico on its strong growth path, building structures and expanding the product portfolio has been a great privilege. We have thus set the stage for a prosperous future.

“I am proud of our collective accomplishments and look forward to remaining a part of the team and continuing to contribute to the ongoing success as chairman of the Supervisory Board. I would like to express my gratitude to all my colleagues and the owners of Tipico for their trust and the exceptional collaboration.”