Light & Wonder (L&W) has announced that Matt Wilson has been promoted to the role of interim CEO. He will take this new position while continuing to serve as Executive Vice President and Group Chief Executive of Gaming.
Meanwhile, Barry Cottle is stepping down as CEO after four years and will now serve as a member of the company’s board of directors, supporting the transitional process as a consultant. The company’s board has commenced the search for a permanent CEO, engaging with a leading national executive firm.
L&W Executive Chair Jamie Odell praised Cottle’s leadership during his tenure as CEO, noting that he was instrumental in reshaping the company: transforming its balance sheet and executing capital allocation priorities.
However, he believes: “As the company enters the next chapter of our growth journey, we are confident that now is the right time to make this leadership transition.” Odell also identified Wilson as the ideal candidate to steer the ship as interim CEO, having worked with him for over a decade.
Odell commented: “Wilson has successfully worked to turn around and reposition L&W’s gaming business for long-term growth. We are confident that his strategic insights, deep industry knowledge and impressive track record make him the ideal person to serve as interim CEO during this transition period.”
Matt Wilson expressed his delight at taking on this temporary position. Like Odell, he points to the strong position that Cottle leaves L&W in, saying: “With streamlined organization, sharpened strategic focus and strengthened balance sheet, we are now better positioned than ever to capitalize on the incredible opportunities ahead for the business.
“I look forward to working closely with the rest of the leadership team in this new capacity as we continue to accelerate our progress as a sustainable growth company.”
