BetMakers rings senior changes as CEO shifts to newly created position
ASX-listed supplier brings Matt Davey into the fold as president while Todd Buckingham is replaced by COO Jake Henson
BetMakers has made a quartet of senior management changes as the supplier looks to position itself for future growth.
The Australian sports betting supplier has named former board member Matt Davey as president and executive chairman.
Former non-executive chairman Nick Chan will remain on the board as a non-executive director.
In terms of day-to-day management, former COO Jake Henson has been named CEO while Todd Buckingham will move to the newly created role of chief growth officer.
Buckingham has also stepped down from the board as part of the reshuffle.
BetMakers said: “The intended purpose of these changes, collectively, is to enable the optimisation of the full potential of the business in an accelerated time frame.
“It is designed to align the skill base of our key executives to the areas that will deliver maximum shareholder value for the company.”
Under his new remit, Davey will provide strategic oversight and direction for the company while Chan will remain on hand to provide his knowledge and experience of the sector.
In his new role as chief growth officer, Buckingham will be responsible for developing and executing on international opportunities.
CEO Henson will be charged with managing operations at the firm.
BetMakers also confirmed the new remuneration details for Davey, Henson and Buckingham.
Davey will be paid an annual salary of A$350,000 (£198,981.21), a short-term incentive of up to 100% of his base salary and a long-term incentive of five million performance rights.
Hensen will receive an annual salary of A$375,000, a short-term incentive of up to 100% of his base salary and a long-term incentive of 2.5 million performance rights.
Buckingham’s annual salary has been shifted in accordance with his new role and the former CEO has agreed to cancel 10 million of his performance rights.
Speaking on his new role, Davey said: “I am delighted, after discussions with management and board members to be re-investing my energy and time to deliver on [BetMakers’] opportunities. I have confidence in the team, I have a strong belief in the market opportunities and I will bring an urgency in our approach to deliver results.”
Buckingham commented: “I have no doubt we have assembled some of the best and most forward-thinking racing, wagering and technology executives in the world.
“I am especially proud to have been the founding CEO of BetMakers as we have built the company from a startup to be the respected expansion global company it is today,” he added.