Light & Wonder announces CFO transition
Oliver Chow will step in as interim CFO as Connie James departs.
US.- Gaming supplier Light & Wonder has announced that Connie James, the company’s executive vice president, chief financial officer (CFO), treasurer and corporate secretary will step down from her role. Oliver Chow, the company’s current senior vice president of corporate finance, will assume the role of interim CFO until a permanent successor is appointed.
Prior to joining Light & Wonder in October 2022, Chow spent five years in senior-level finance roles at Aristocrat, most recently serving as chief financial officer – Americas, EMEA and customer experience. Previously, he served in various financial roles with Universal Pictures, Deluxe Entertainment Services and JPMorgan Chase & Co. He is also a board member of United Way of Southern Nevada, where he serves as board treasurer.
Matt Wilson, chief executive officer of Light & Wonder, said: “Connie has played a key role in advancing Light & Wonder’s cultural and financial transformation, which has led to operational excellence, double-digit growth and a strengthened balance sheet. She also helped us build a deep and talented finance team that will help provide a smooth transition to the next chapter of financial leadership within the Company. On behalf of the Board and management team, I wish her well in her future endeavors.
“We are pleased and fortunate to have a leader of Oliver’s caliber step into the role of Interim CFO. With more than 15 years of entertainment and gaming leadership experience and deep financial expertise, we are confident that Oliver is well-positioned to support the continued execution of our financial priorities while the Board conducts its search.”
James, who departs to pursue another opportunity, commented: “Serving alongside such a talented team has been a highlight of my career, and I am very proud of what we’ve accomplished together. We have scaled our business, evolved our capital allocation strategy and driven considerable efficiencies that have created a stronger, more flexible Light & Wonder. I am confident that Light & Wonder is well-positioned for continued success, and I am focused on ensuring a seamless transition over the coming months.”
Light & Wonder has announced two new igaming executive appointments. Katie Byers was named senior vice president of People Capability while Daniel O’Donoghue is the firm’s new chief operating officer for igaming. In March, the company appointed Niaz Nejad as managing director of gaming for the Americas.
SciPlay Corporation forms committee to consider Light & Wonder offer
The digital games developer SciPlay Corporation has announced that its board of directors formed a special committee of independent directors to review the acquisition proposal from Light & Wonder. The committee is co-chaired by Gerald Cohen and April Henry, with Michael Marchetti and William Thompson serving as members.
Under the terms of the proposed transaction, Light & Wonder would acquire SciPlay’s remaining 17 per cent equity interest for a cash price of $20.00 per share. The company cautioned its shareholders that neither the board nor the special committee has made any decision with respect to the proposal.
