DraftKings has announced a number of leadership changes in a bid to improve operational efficiencies.
Its current Chief Financial Officer Jason Park will become the company’s Chief Transformation Officer and will be tasked with the job of leading initiatives to “deploy cutting edge technologies” to aid operating efficiencies as well as oversee the acquisition of Jackpocket.
“I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years,” DraftKings Chief Executive Officer and Co-Founder Jason Robins. “Jason’s unique skill set will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. online gaming.
Park joined DraftKings as Chief Financial Officer in 2019 and oversaw the company’s transition to the public markets.
Since going public, DraftKings stock has risen 325% and in Q2 and Q4 it produced a positive Adjusted EBITDA which in part it attributes to Park’s leadership of operational efficiency programs.
“I am thrilled to take on this new role which tackles several significant opportunities to improve how we operate and taps into my passion for building great and highly efficient companies,” said Park.
Meanwhile, Alan Ellingson will be elevated from his current role as Senior Vice President, Finance and Analytics to Chief Financial Officer.
He has been with the company since 2020 and DraftKings says that he has worked closely with Park to develop a world-class finance and accounting organization which includes building the forecasting capabilities that support the creation, tracking and ongoing refresh of the Company’s multi-year financial objectives.
“I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the Company on the very clear path that we have laid out. Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.” added Robins.
All changes in role are set to be effective from May 1, 2024.
DraftKings level new accusations at former employee
This week also saw DraftKings make further allegations against former employee Mike Hermalyn.
In a new filing DraftKings said it has come upon new information that proved Hermalyn, who defected to Fanatics days before the 2024 Super Bowl, stole company documents and attempted to persuade employees of the company to head to Fanatics with him.
