Scientific Games promotes internal candidate to CFO
Connie James to take over from Mike Eklund as CEO Barry Cottle reveals “very strong interest” in soon-to-be divested lottery and sports divisions
Scientific Games has hired Connie James as its new chief financial officer (CFO).
She will replace current CFO Mike Eklund and will also serve as EVP, treasurer and corporate secretary.
James has served as CFO of Scientific Games’ gaming business since January 2020 and will assume her wider-ranging role within the group on 15 October.
Eklund meanwhile will step down from his role to “pursue other opportunities” and will remain with the firm until October.
Scientific Games CEO Barry Cottle said of the appointment: “As we advance our strategy to become a content-led growth company, we are confident that Connie is the right executive to take the reins to help us achieve our vision and drive long-term shareholder value,” he added.
Cottle also paid tribute to the departing Eklund and his role in shaping the organisation and driving significant and consistent improvement in its finances.
A strategic review is well underway at Scientific Games and the supplier has committed to the divestment of its lottery and sports betting businesses from the main group as part of a wider focus on becoming a content-led digital gaming business.
Potential strategies under consideration include an IPO, a potential reverse SPAC merger or a straight sale.
Earlier this week, the firm took the unprecedented step of publicly revealing potentially sensitive information on its lottery business as a way of encouraging bids.
Elaborating on the review, Cottle acknowledged that it was “moving rapidly” to a conclusion.
“There is very strong interest in the businesses we intend to divest, and the discussions to date continue to give us confidence that the divestitures will unlock substantial value for our shareholders,” Cottle explained.