XLMedia’s chief financial officer Iain Balchin (pictured) has announced their decision to step down later this month, Rowan Ellis will take on the role as interim CFO.
Balchin joined the company in early 2019 and has overseen the acquisitions of sports betting platforms CBWG Sports and Sports Betting Dime for a combined $45m.
December 2020 saw CBWG Sports purchased for $12m in cash and $3.5m in shares. This was followed in March 2021 through the $26m purchase of sportsbook review website Sports Betting Dime.
Ellis has worked with the affiliate marketing group since April 2020 and will take on the new roll, but he won’t become a board member.
This news comes after XLMedia announced their new chief information officer, Nigel Leigh.
The marketing group has projected revenue to come in between $65m and $70m, an 18/2% year-on-year increase from 2020 despite what the company has called an “ongoing weakness” in its European casino business.
Speaking on the news, Chris Bell, non-executive chair of XLMedia, said: “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.”
