Catena Media snaps up Kindred Group US head as new CEO
Manuel Stan to join the affiliate in July as group moves quickly to replace Michael Daly who departed in late February
Catena Media has moved swiftly to replace former CEO Michael Daly with the appointment of Kindred Group head Manuel Stan as the firm’s new boss.
Daly resigned with immediate effect from the Stockholm-listed affiliate last week, with VP of corporate strategy Pierre Cadena named as interim CEO at the time.
Catena Media confirmed Stan will replace Daly, effective from July 1, with Cadena continuing to lead the business until then.
Stan will be based out of Las Vegas where he will lead on the group’s North America and global operations.
The incoming CEO joins the affiliate from Kindred Group, where he has spent more than 16 years rising through the ranks at the Unibet parent company.
Having originally joined as a marketing campaign manager back in 2007, a series of promotions saw Stan named head of digital marketing in June 2012.
He was then appointed marketing director in October 2016 before stepping up to become SVP and general manager of North America for the operator in May 2018.
Last year, Kindred confirmed its decision to exit North America by the end of Q2 2024 as the firm faltered amid high costs and tough competition.
Stan will be tasked with turning Catena Media’s fortunes around after a disappointing 2023 which saw group revenue fall 22% compared to 2022, including an 88% slump in Q4 revenue alone.
Speaking on his appointment, Stan said: “I am delighted to have this opportunity to drive Catena Media forward on the next stage of its journey as the group takes on new challenges while further advancing its presence in North America.
“This is a strong business with talented employees and I look forward to working with the teams to capitalize fully on the opportunities that lie ahead.”
Göran Blomberg, Catena Media chair, added: “Manuel was the outstanding candidate for this position among the names considered and we are extremely pleased that he is joining us.
“He is a leader with proven leadership skills and wide-ranging experience within our industry. His close knowledge of the North American market and of both the operator and affiliate sides of the business will be a significant asset for Catena Media and our North America-focused organization as we begin this new chapter for the group,” he concluded.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.