DraftKings has unveiled key leadership changes, effective 1 May 2024, aimed at bolstering operational effectiveness.
Jason Park, currently serving as CFO, will transition to the role of Chief Transformation Officer. Concurrently, Alan Ellingson, the SVP of Finance and Analytics, will assume the position of CFO.
In his new role, Park will lead efforts to implement advanced technologies to drive operational efficiencies and oversee the integration of the proposed acquisition of Jackpocket.
Park has over five years of experience at DraftKings, including his tenure as CFO since 2019.
Under Park's financial leadership, DraftKings witnessed revenue growth from $323m in 2019 to $3.66bn in 2023. His initiatives also contributed to the company achieving positive adjusted EBITDA in key quarters and an increase in stock price since its public listing in 2019.
Meanwhile, Ellingson, who joined DraftKings in 2020, will step into the role of CFO, leveraging his experience in finance and analytics. He will be tasked with driving the company towards its financial objectives and enhancing shareholder value.
Jason Robins, DraftKings CEO and Co-Founder, said: “Alan is perfectly suited to seamlessly step into the CFO role as an established company leader with deep credibility across the entire organisation. I look forward to assisting with this transition and continuing to deliver value for our shareholders. We will provide more information on the transformation program during our next earnings call.”
The news arrives shortly after DraftKings launched retail sports betting at Wrigley Field in Illinois, providing customers with in-person wagering opportunities through various betting kiosks and over-the-counter betting windows.
The initiative was accompanied by responsible gaming initiatives, including the introduction of the ‘My Stat Sheet’ tool aimed at promoting responsible gaming practices among customers.
