London-listed gambling software development company, Playtech, has made some changes to their team of senior managers. They have announced that Ron Hoffman will resign as chief financial officer in order to focus on the company’s financial division and Andrew Smith will take over as CFO.
Hoffman, who joined Playtech early in its development in 2004, has also resigned from the board of directors of the company. He was instrumental in the corporate development of Playtech, including the listing of the company on London’s AIM market in 2006 and moving over to the Main Market in 2012. At the same time, since 2015, Hoffman has held the position of chief executive of the Financials division of the company.
“The industry as a whole is going through significant changes which present growth opportunities for our business and we are well positioned to capture those,” Hoffman commented to Finance Magnates. “We have the capabilities, the technology, the financial backbone and the right people in place to create significant value to Playtech’s shareholders. I thank the Playtech board in entrusting me with this amazing opportunity. We will deliver.”
Hoffman will be replaced as CFO by Andrew Smith who is currently holds the position of Head of Investor Relations. He moved to Playtech in 2015 from a position in investment banking. He will also take up a position as executive director of the board.
James Newman has been hired by Playtech to replace Smith at IR. He moves over from Bell Pottinger, where he advised listed companies including Playtech and other gaming and leisure companies, in investor and media relations.
Playtech confirmed that the company’s full year financial results are on track with expectations and their gaming and financial divisions are in line with trends released on 9 November.