Sportradar undergoes organisational and leadership changes
Supplier streamlines structures into six pillars as CFO and CSO announce depatures
Sportradar has restructured its organisation and leadership structure in a bid to not only drive global innovation and build on profitability but increase company efficiency and innovation.
As part of the shakeup, Sportradar’s organisational structure will now consist of six business functions.
The people and finance arms of the business will be led by chief people officer (CPO) Severine Riviere-Gerstner and CFO Gerard Griffin, respectively.
Legal, risk and administrative services will be headed by chief administrative officer, chief legal officer and corporate secretary, Lynn McCreary.
The product delivery and operations arm will be led by previous CPO Warren Murphy, who now holds the role of chief delivery and operations manager. He will be tasked with combining and centralising content as well as product development and engineering to delivering to Sportradar’s clients and partners.
Former CCO Nick Maywald is now chief growth and innovation officer and will lead that side of the business, combining growth, strategy and innovation to capitalise on market opportunities.
CCO Eduard Blonk will lead the commercial arm of the firm, driving revenue opportunities by combining the company’s sales, client services as well sports partnerships, marketing and communications and go-to-market functions.
Alongside these structural changes, the supplier reaffirmed its fiscal 2024 outlook of at least 20% growth for revenue and adjusted EBITDA, as well as its fiscal 2023 guidance of revenue between €870m to €880m which would see year-on-year (YoY) growth between 19% and 21%.
The 2023 guidance would also see adjusted EBITDA in the range of €162m to €167m, which would be YoY growth between 29% and 33% and an adjusted EBITDA margin between 18.4% and 19.2%.
Carsten Koerl, CEO of Sportradar, commented on the moves and what they will mean for the organisation going forward.
Koerl said: “By centralising our key business functions, we will foster greater collaboration and faster decision-making, enabling us to drive further operating efficiencies and increased innovation across our business.
“These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us.
“I am confident we have the right leaders in place, intently focused on executing on our strategic priorities. For 2023, we remain on track to deliver on our strong growth targets and are well-positioned to maintain that momentum into 2024,” he added.
Ulrich Harmuth, chief strategy officer, will be leaving Sportradar as part of the changes, as will Griffin, who announced he will remain as CFO until 31 May or until a permanent successor is hired.
On the two departures, Koerl commented: “I want to thank Ger for his contributions to Sportradar. He has meaningfully strengthened our finance team with a deep and talented bench that will continue to contribute to the company as we look to drive growth and profitability into the future.
“We look forward to continuing to benefit from his leadership while we search for a permanent successor.
“I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success.
“For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavours,” the CEO added.