Sportech Plc has this morning confirmed that its leadership team of Richard McGuire (CEO) and Tom Hearne (CFO) will step down following the release of the company’s interim results on 9 September.
The duo will be replaced by Sportech COO Andrew Lindley, who will serve as new CEO, supported by the promotion of Group Financial Controller Nicola Rowlands to CFO.
Sportech’s leadership makeover forms part of an ‘evaluation of business lines’ following the reduction in the operating scale of the group – that during 2020 and 2021 divested a number of its wagering assets.
“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,” Giles Vardey, Chairman of Sportech, said:
“They leave their roles with the thanks and gratitude of many people in the Company and our stakeholders. We wish them both continued success.”
McGuire and Hearne will remain with Sportech helping assist in an orderly transition and will remain available to support the business through to the end of the year.
The announcement sees McGuire end his five-executive tenure with Sportech, in which he has served as CEO since 2019 charged with leading the group’s unit reduction and listing on the London AIM market.
“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,” McGuire commented.
“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.”