Sportradar Group has revealed a new leadership arrangement as part of its worldwide organizational restructuring strategy.
The new structure is in effect immediately and impacts six key areas within Sportradar’s operations.
Warren Murphy has shifted from Chief Product Officer to Chief Delivery and Operations Officer, overseeing product delivery and operations. This division combines and centralizes content, product development, and engineering.
Former Chief Content Officer Nick Maywald assumes the role of Chief Growth and Innovation Officer, responsible for growth and innovation initiatives. Eduard Blonk, previously Chief Commercial Officer, will head the commercial function, encompassing sales, customer support, sports partnerships, marketing, and communications.
Furthermore, Lynn McCreary, Chief Administrative Officer, Chief Legal Officer, and Corporate Secretary, will manage legal, risk, and administrative services. Severine Riviere-Gerstner will serve as Chief Human Resources Officer, leading the human resources department, and Gerard Griffin will take the helm of the finance function.
However, Griffin’s tenure will be brief, as he has informed Sportradar of his resignation due to personal reasons.
Griffin will remain in his role as Chief Financial Officer until the end of May, or until a permanent replacement is found, whichever occurs first.
Ulrich Harmuth, the head of Strategy, has also departed Sportradar. Sportradar stated that Harmuth is leaving the company to pursue other ventures.
The CEO of Sportradar indicated that these changes will facilitate future expansion.
Sportradar’s CEO, Carsten Koerl, expressed enthusiasm regarding the new global organizational framework. He added that it will empower the company to better prepare for future growth.
“This new global organization and leadership structure aligns our teams with our strategic priorities, facilitates agile execution, and positions Sportradar to be better prepared for future growth,” Koerl stated.
“By centralizing our key business functions, we will foster greater collaboration and faster decision-making, enabling us to drive further operational efficiencies and innovation across the business.
“These decisive actions will enable us to better serve our clients and partners and capitalize on the significant market opportunities ahead of us.”
Sportradar reaffirms its financial outlook for 2023.
In addition to the organizational restructuring, Sportradar also reiterated its guidance for the 2023 fiscal year.
This includes revenue of €870 million (£745 million/$951 million) to €880 million, representing a 19% to 21% increase from 2022. Adjusted EBITDA is projected to be between €162 million and €167 million, reflecting a 29% to 33% increase.
Sportradar has affirmed its prediction for at least a 20% rise in revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the upcoming fiscal year.
Despite a 63.8% decline in Sportradar’s profit for ongoing operations during the third quarter, revenue climbed by 12.4% and adjusted EBITDA surged by 38.3% in the same timeframe. The company recorded a profit of €4.6 million for the quarter.
Over the first nine months of 2023, profit from ongoing operations amounted to €11.4 million, representing a 73.8% decrease. Revenue expanded by 19.3% and adjusted EBITDA increased by 40.2% during the same period.
“I am certain that we have the correct leadership team focused on implementing our strategic goals,” stated Kohl. “For 2023, we remain on course to achieve robust growth targets and are well-prepared to maintain this momentum into 2024.”
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