Tipico selects Axel Hefer for CEO role

The fast-growing German sports betting provider, Tipico Group, strengthened its team with a new senior-level appointment.

The company picked an executive from within for the important CEO role

The company confirmed earlier this week that it looked within its ranks for a new Chief Executive Officer (CEO).

As a result, Tipico selected Axel Hefer, who used to hold the role of Chief Operating Officer (COO).

Taking on the position of CEO, Hefer succeeds in the role of Joachim Baca.

A seasoned executive, Baca held the role for eight years, bringing success to Tipico and playing a pivotal role in its growth.

While Baca will no longer hold the role of CEO, he was appointed to the position of Chairman of the company's Supervisory Board.

The new CEO brings extensive experience

Hefer initially joined Tipico back in November 2023.

As COO he played an important role in overseeing strategic growth and operational processes.

Prior to becoming a part of Tipico, Hefer accumulated significant experience by holding senior-level roles with German tech companies, including giants such as Home24 and Trivago.

Taking on the role of CEO, Hefer is expected to help advance the innovation in the company's products, while helping it bolster its leadership position within a market that is incredibly competitive.

In a statement, the new CEO shared his excitement by explaining: "In recent years, Tipico has evolved from a startup to the definitive market and technology leader in sports betting in Germany."

Last but not least, Hefer said that he remains committed to effectively collaborating with the company's leadership with a goal to bolster its market presence and achieve "additional sustainable growth."

The outgoing CEO played a key role in Tipico's growth

The outgoing CEO and incoming Chairman of Tipico's Supervisory Board, Baca, was similarly excited about the latest announcement.

"Leading Tipico on its strong growth path, building structures and expanding the product portfolio has been a great privilege," he said.

Baca outlined that the company builds on a solid foundation which positions it well for further growth.

"I would like to express my gratitude to all my colleagues and the owners of Tipico for their trust and the exceptional collaboration," explained Baca in conclusion.

Under Baca's guidance, Tipico expanded from a startup to a market leader within the betting market in Germany.

His strategic advice and relentless efforts guided the company on a path to innovation, growth and expansion.

Besides growing its presence in Germany, Tipico was able to raise awareness of its brand.

The company was in fact among the first providers to secure a sports betting license in the country.

Image credit: Tipico Group