Sportech's CEO and CFO resign

ne sports gaming and technology provider Sportech PLC has today revealed that both Chief Executive Ian Penrose and Chief Financial Officer Mickey Kalifa have notified the board of their intention to resign.

Penrose will remain in his leadership role until December 31; whilst Kalifa’s resignation is effective from today. However, the firm has informed that Penrose and Kalifa will assist Sportech governance in its leadership transition as Richard Cooper, current Chair of the Audit Committee, takes over the company’s finance divisions.

Speaking about his departure, Penrose said: “I have enjoyed my time at Sportech in which the company has enjoyed a transformational period from a rapidly, and many thought terminally, declining UK business with debts exceeding £112m and 5x leverage, into the business it is today.”

Kalifa added: “I have been with Sportech for eight years and have thoroughly enjoyed my time at the company and driving the group’s successful financial turnaround.

“However, I believe it is time to move to the next stage of my career. I am very confident that Sportech will continue to deliver value for shareholders and customers alike.”

Sportech management praised the senior executives’ contribution to helping the firm’s accountancy. “We would like to thank Ian for the tremendous job he has performed at Sportech; he presided over the transformation of the company from a UK-focused business into a respected, fully licensed and regulated global gaming technology supplier and gambling operator in the US with a strong balance sheet,” said Sportech Non-Executive Chairman Richard McGuire.

“Mickey led a remarkable transformation in the company's financial strength as CFO and previously when corporate development director, in prominently driving Sportech’s global expansion,” he concluded.