Global tech company Lottery.com has announced several changes to its Board of Directors and its executive management team. The company said the goal is to “further enhance corporate governance and strategic leadership, by drawing from deep talent within the world of finance, entertainment and sport.”
Matthew McGahan, Chairman of the Board of Directors, has been named Interim CEO, following the recent termination of former CEO Mark Gustavson.
The Board of Directors also named Robert J. Stubblefield to serve as its CFO. Stubblefield will step into this role immediately.
Interim CEO Matthew McGahan said, "Mr. Stubblefield has been a key member of the consulting team that helped the Company regain regulatory compliance with Nasdaq.
"The company was extremely fortunate to find someone with his background to step in and assume a leadership role over the last four months, during which he gained significant knowledge about the Company and its operations.”
Stubblefield said he is excited to take on this responsibility.
He commented, “I am eager to join the Lottery.com team at such an important time for the company. I look forward to leveraging my years of experience to guide the company in implementing sustainable financial processes and controls.
"I am grateful to be working alongside an energetic group of leaders to advance the company’s strategic goals, rebuild our domestic and international revenue engines, and focus the company's efforts on delivering maximum shareholder value.”
Both commercial motorsport specialist Paul Jordan and actor, entrepreneur and The Tamer Hassan Academy of Acting Founder, Tamer Hassan, will take their place on the board as Non-Executive directors.
Hassan commented, "My journey as an actor and entrepreneur, working successfully over many years with some of the biggest household entertainment brands, has given me unique insights into industry, and I look forward to contributing my expertise to the growth and success of Lottery.com."
These changes in its leadership follow an announcement regarding a funding agreement Lottery.com has signed with United Capital Investments London.
The group said it will disclose specific terms and conditions of the deal once both parties have finalized the definitive agreement.
