The board of XLMedia has confirmed that Stuart Simms has chosen to resign as Chief Executive of the London AIM-listed igaming media publisher.
Updating investors, XLMedia stated that Simms had chosen to “pursue other interests”, but will support the company in its leadership transition as the board begins an executive search to find its successor.
CEO of XLMedia since 2019, Simms took over the leadership of the firm from Co-founder and long-term Chief Executive Ory Weihs.
Simms’ tenure saw XLMedia aggressively expand its North American publishing network through strategic M&As while re-optimising a number of its existing legacy European igaming domains.
“During my time at XLMedia, and with the support of my team, we have been able to deliver substantive, tangible change; de-risking the core business whilst moving the company’s operational focus towards the growing North American sports market,” Simms said on his departure notice.
“We have created a strong asset base capable of delivering shareholder value for many years to come.”
His departure comes as the publisher announced last week that former EMAP Lifestyles and Daily Mail Online boss Marcus Rich had chosen to become the business’ new non-executive Chairman.
XLMedia interim Chair Julie Markey stated: “I would like to thank Stuart for his contribution to XLMedia through a very challenging period in our history. He departs having expanded our sports footprint in North America, a key strategic focus. I, on behalf of the board, wish him all the very best for the future.”