Light & Wonder CFO set to depart in August
Connie James to explore opportunities outside of the industry as search begins for replacement
Light & Wonder chief financial officer (CFO) Connie James will step down from her position later this year.
James will depart the supplier on 25 August as she moves to pursue an opportunity outside of the igaming industry.
James originally joined Light & Wonder (then Scientific Games) as CFO of its gaming division in January 2020 before stepping up to become company CFO in October 2021.
The former Deloitte head previously spent more than nine years with Aristocrat across a series of finance-led roles, culminating in her position as CFO of global land-based gaming.
James will be replaced by current Light & Wonder SVP of corporate finance Oliver Chow as interim CFO until a permanent successor is found.
Chow, who also spent time with Aristocrat earlier in his career, joined Light & Wonder in October last year.
Light & Wonder confirmed its board has begun a search process to identify James’ long-term replacement, including retaining a recruitment agency to help evaluate internal and external candidates.
Touching on her departure, James said: “Serving alongside such a talented team has been a highlight of my career, and I am very proud of what we’ve accomplished together.
“We have scaled our business, evolved our capital allocation strategy and driven considerable efficiencies that have created a stronger, more flexible Light & Wonder. I am confident that Light & Wonder is well-positioned for continued success, and I am focused on ensuring a seamless transition over the coming months,” she added.
Matt Wilson, Light & Wonder’s CEO, commented: “Connie has played a key role in advancing Light & Wonder’s cultural and financial transformation, which has led to operational excellence, double-digit growth and a strengthened balance sheet. She also helped us build a deep and talented finance team that will help provide a smooth transition to the next chapter of financial leadership within the company.”
On Chow’s appointment, the CEO added: “We are pleased and fortunate to have a leader of Oliver’s calibre step into the role of interim CFO. With more than 15 years of entertainment and gaming leadership experience and deep financial expertise, we are confident that Oliver is well-positioned to support the continued execution of our financial priorities while the board conducts its search.”
Elsewhere, the firm has reaffirmed its target of $1.4bn in EBITDA by 2025 as it noted it has showed “strong financial performance” across key metrics in the first half of 2023.