Sportech has announced a number of board changes, with CEO Richard McGuire and CFO Tom Hearne stepping down from their current roles following the release of the group’s interim results on 9 September 2021.
Former Group COO Andrew Lindley will become CEO, with Nicola Rowlands to be promoted from Group Financial Controller to CFO. Both Lindley and Rowlands will join the Sportech board today.
The changes follow a “complete evaluation of the group’s business lines; the completion of the previously announced disposals which has led to the proposed substantial capital return; and also the recent positive outcome to the Connecticut sports betting potential,” a statement from the group read.
“The board is extremely grateful to Richard and Tom for their passionate leadership, their sourcing and executing of numerous corporate transactions and their dedication and commitment in implementing strategic objectives over several years,” said Sportech Chairman Giles Vardey.
“They leave their roles with the thanks and gratitude of many people in the company and our stakeholders. We wish them both continued success. We are also looking forward to working with Andrew and Nicola, who are very familiar with the business and its markets, and welcome them to the board.”
McGuire and Hearne will remain available to support the betting technology business through to the end of the year.
McGuire commented: “After several years of restructuring the business and pursuing a clear goal of realising shareholder value where possible, that objective has been mostly achieved. Given the major changes in the company’s business and structure, I believe that now is the right time to hand over the leadership reins to Andrew and Nicola.
“It’s been my honour to work with so many dedicated company professionals, business partners and supportive shareholders and I look forward to supporting each, however required in the future.”