Last checked at 8 Jul 2021 12:32
8 July 2021
XLMedia PLC
("XLMedia" or the "Company")
Board change
XLMedia (AIM: XLM), a global digital performance publisher, announces that Chief Financial Officer ("CFO"), Iain Balchin, is due to leave the Company on 22 July 2021.
Rowan Ellis, who is currently working as a financial consultant to XLMedia, will assume the role of interim Group Chief Financial Officer but will not join the Board at this time. Rowan will work alongside Iain ensuring an orderly handover.
Rowan joined XLMedia in April 2020, providing valuable support across the business, including the Company's broader M&A strategy and the subsequent acquisitions of both CBWG and Sports Betting Dime which achieved immediate scale and reach for the Group in the burgeoning US Sports market, in addition to helping advance several change management initiatives.
Rowan is an experienced Finance and Risk Consultant, having held interim CRO, Finance Director, and Transformation Director roles, and both senior finance and risk roles at a number of leading finance institutions including WiZink Bank, Co-operative Bank, Metro Bank PLC, RBS and WorldPay Group PLC.
Chris Bell, Non-Executive Chair of XLMedia, commented:
"On behalf of the Board, I would like to thank Iain for his contribution to the business and wish him every success for the future."
"We have now commenced the search for Iain's long-term successor, but believe that, in Rowan, we have someone who already has a good understanding of our business and the finance function and has been central to a number of key initiatives already implemented."
For further information, please contact:
XLMedia plc Stuart Simms, Chief Executive Officer www.xlmedia.com
| ir@xlmedia.com |
Vigo Consulting Jeremy Garcia / Fiona Hetherington www.vigoconsulting.com
| Tel: 020 7390 0233 |
Cenkos Securities plc (Nomad and Joint Broker) Giles Balleny / Max Gould www.cenkos.com
| Tel: 020 7397 8900 |
Berenberg (Joint Broker) Mark Whitmore / James White / Tejas Padalkar www.berenberg.com | Tel: 020 3207 7800 |
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Notes:
XLMedia is a global performance publisher. Operating across a variety of verticals including online gaming, personal finance and sports, the Group uses proprietary data and advanced targeting capabilities to build valuable connections with consumers through high-quality content - a value which can be passed onto XLMedia customers.
Group strategy is rooted in two fundamental corporate objectives to evolve the XLMedia business, speed transformational progress and drive global growth:
· A balanced portfolio of online assets
o Proactively managing the portfolio to ensure exposure to a diverse range of attractive territories and vertical markets, with different stages in their lifecycle/maturity. XLMedia seeks to achieve this through realigning the weighting of assets and moving towards more regulated markets (the US) and verticals (Sports), with more data-driven, conscious business model selection. In doing so, the Group seeks to promote sustainable revenue growth for the business and its customers, alongside data-driven intelligence to inform investment cases.
· Branded, content-rich, engaging websites
o Cultivating premium publishing brands with a shared belief in quality. XLMedia seeks to achieve this through focused consolidation of its portfolio and resources to concentrate only on those publishing assets which are optimised for its chosen markets. In doing so, the Group seeks to deliver content-rich, consumer centric sites which promote tangible user value while benefiting and extending the capabilities of our customers.