Sportech Sees McGuire And Hearne Step Down As Company Restructures
Author: Joe Kizlauskas
Last Updated: 10th March 2023
Sportech Plc said on Friday morning that its CEO, Richard McGuire, and CFO, Tom Hearne, will step down when the company’s interim results are released on September 9th.
Sportech COO Andrew Lindley will take over as CEO, while Group Financial Controller Nicola Rowlands will be promoted to Chief Financial Officer.
Sportech’s leadership change is part of a broader ‘evaluation of business lines’ that follows the company’s reduction in operating scale in 2020 and 2021, when it sold off a number of its wagering businesses.
Giles Vardey, Chairman of Sportech, said: “The Board is extremely grateful to Richard and Tom for their passionate leadership, their sourcing and executing of numerous corporate transactions and their dedication and commitment in implementing strategic objectives over several years.
“They leave their roles with the thanks and gratitude of many people in the Company and our stakeholders. We wish them both continued success.”
McGuire and Hearne will stay on with Sportech to aid with the transition and will be available to support the company until the end of the year.
McGuire will leave Sportech after a five-year managerial career with the company, where he has served as CEO since 2019 and has been in charge of the company’s unit reduction and listing on the London AIM market.
“After several years of restructuring the business and pursuing a clear goal of realising shareholder value where possible, that objective has been mostly achieved. Given the major changes in the Company’s business and structure,” McGuire commented.
“I believe that now is the right time to hand over the leadership reins to Andrew and Nicola. It’s been my honour to work with so many dedicated Company professionals, business partners and supportive shareholders and I look forward to supporting each, however required in the future.”