The Gauselmann Group, the German gaming giant, has appointed Lars Felderhoff to the position of chief financial officer, a role he will take up on July 1.

The 42-year-old succeeds Alexander Vleeming, who is stepping down after a decade with the company.

“We would like to thank Alexander for the successful years together and wish him all the best for the future, both professionally and personally,” said Paul Gauselmann, company founder and management board chairman.

“At the same time, we are pleased to welcome Lars to the management board. Having gained his first experiences with the company as a trainee in 1997, he is the best example that talented employees from the Gauselmann Group’s own ranks can climb the career ladder to the highest level of senior management.”

Armin Gauselmann, director of human resources, added: “As commercial director at Gauselmann, Lars Felderhoff has already established – and proven – himself at senior management level of the Gauselmann Group in recent years.

“We are therefore confident that he will also master his new tasks as CFO in an exemplary manner and wish him every success in this new position.”