Playtech CFO Ron Hoffman switches to Financials CEO role

Playtech CFO Ron Hoffman will step down from his role to become CEO of the supplier’s Financials division, with head of IR Andrew Smith promoted to replace the long-serving financial chief.

Hoffman, who will also vacate his position on the Playtech Board, will take charge of the supplier’s expanding Financials arm after previously helping the firm complete a number of acquisitions in the space.

He will be replaced by the London-listed firm’s current head of investor relations, Andrew Smith, who will also become an executive director on the Board following Hoffman’s switch.

Smith has previously held a number of roles at investment banking companies, specialising in the technology and leisure sectors at Deutsche Bank and ABN AMRO.

Playtech chairman, Alan Jackson, said: “Andrew [Smith] is the natural successor to Ron, having played an increasingly important part in Playtech’s financial, operational and strategic performance over the past few years, becoming a key member of Playtech’s management team as well as an important contributor at Board level.

“Andrew’s breadth of experience will be invaluable over the coming years and I wish him every success.”

As a result of Smith’s promotion, Playtech has hired James Newman of Bell Pottinger as its new head of IR. Newman currently advises Playtech and other gaming companies and will join the firm next month.

In other news, the London-listed supplier today also announced it had agreed an extension to its arrangements with William Hill until the end of 2019.

And according to a trading update released this morning, full-year results for the 12 months ended 31 December 2016 are expected to be in line with market expectations, thought to be in the region €300m EBITDA.

Playtech, which will announce its full results on 23 February 2017, saw its share price rise 0.24% to 830.50p on the London Stock Exchange at the time of writing.