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Challenger Acquisitions adds two big wheels to the board

Landing financier Richard Marin is major coup for the recently-listed firm, which has 2.4% stake in the planned new landmark in the Big Apple.

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Challenger invests in and will help create giant observations wheels like the London Eye.

Challenger Acquisitions (LON:CHAL) has appointed the chief executive of the New York Wheel as one of two new independent directors of the company.

Landing financier Richard Marin is a major coup for the recently-relisted firm, which has a 2.4% stake in the planned new landmark in the Big Apple.

Marin helped raise the US$500mln for the project and brings with him 37 years’ experience in the world of finance.

This will be invaluable experience to call on for Challenger, which will invest in and help create from scratch giant observation wheels.

Marin is joining the board with John Le Poidevin, who is coming on board as chairman. He replaces Mark Gustafson, who exchanges the role of executive chairman for chief executive.

Le Poidevin is Guernsey and London-based with significant experience in advising businesses in relation to their strategy, investment and financing, mergers & acquisitions (M&A), corporate governance and financial management.

He is the former head of consumer markets for the professional services firm BDO and sits on the boards of Market Tech Holdings Limited (LON:MKT), SafeCharge International Group Limited (LON:SCH), Stride Gaming (LON:STR) and International Public Partnerships (LON:INPP).

CEO Gustafson said: “We warmly welcome both of them at this transformational time for the company as we look to strengthen our portfolio from our extensive pipeline of global giant observation wheel opportunities and believe they will be instrumental in this regard. 

“Adding these valued new members to our current board, we believe we now have a world class team with which to deliver on our objectives to generate revenues and significant shareholder value from giant observation wheels globally."

Quick facts: Challenger Acquisitions Limited

Price: 0.13 GBX

LSE:CHAL
Market: LSE
Market Cap: £384.8 k
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