Inspired makes sweeping management changes
Inspired Entertainment has announced a series of major changes to its senior management team, including the departure of Luke Alvarez as chief executive and president.
The company has now formed the ‘Office of the Executive Chairman’, which will consist of executive chairman Lorne Weil; president and chief operating officer Brooks Pierce; executive vice-president and chief strategy officer Daniel Silvers; and executive vice-president and chief financial officer Stewart Baker.
The new Office will execute the day-to-day management of the company, while its members will also take over Alvarez’s various responsibilities following his exit.
“I am grateful to Luke for his leadership of Inspired since its founding and during its rapid growth in its inaugural year and a half as a public company,” Weil said.
“We will miss him, and we wish him every success.”
In connection with the new Office, Brooks Pierce has been named president and chief operating officer.
Pierce recently joined the company as senior vice-president, North America, and will now join executives Weil, Silvers and Baker in the new Office of Executive Chairman.
In addition, Baker will expand his role as chief financial officer to now serve as executive vice-president of the company.
Meanwhile, Inspired has also pre-announced unaudited financial results for the second quarter, covering the three months to March 31, saying they are ahead of expectations.
Consolidated revenue is forecast to come in at around $37.5m (€31.3m), which would be 33.5% more than in the corresponding period last year.
Adjusted earnings before interest, tax, depreciation and amortisation looks set to amount to $12.4m, around 43.4% more than in Q2 of 2017.
Weil said: “I believe the outlook for the company is strong and I look forward to continuing to work with the leadership team, the board and our incredibly talented employees as we execute on our strategic priorities as a best-in-class company and leader in our industry.”
Related article: Inspired hands senior North America role to Pierce