Online gaming giant Playtech PLC (LON:PTEC) has announced that its longtime CFO Ron Hoffman will resign his position as CFO, in order to focus full-time on building the company’s Financials division.
Mr. Hoffman will also resign from Playtech’s board of directors.
His replacement as CFO of Playtech will be Andrew Smith, currently Head of Investor Relations, who will also join the Board as an Executive Director. Smith joined Playtech in 2015, after working in investment banking with ABN AMRO and Deutsche Bank, specialising in both the Technology and Leisure sectors.
Replacing Andrew Smith in IR at Playtech is new hire James Newman, a capital markets communications specialist with over eight years’ experience advising listed companies in investor and media relations. Most recently Mr. Newman worked at Bell Pottinger where he has advised Playtech and other gaming and leisure sector companies for the last three years.
Ron Hoffman has already effectively overseen Playtech’s Financials businesses for the past year, driving some major changes. As was exclusively reported at LeapRate, Playtech’s Markets.com business went through a major restructuring early last year, ending relationships with most IBs and Affiliates and removing incentive compensation for internal sales and retention employees – leading to a mass reduction in jobs.
After then jettisoning its TopOption binary options brand, Playtech acquired institutional eFX player CFH Group late last year, completing its refocusing on a more high net worth and institutional client base.