Caroline Ackroyd will step down as CFO of XLMedia.

XLMedia the owner of Sports Betting Dime and WhichBingo, is experiencing a leadership change as CFO Caroline Ackroyd resigns to pursue new opportunities in the gambling industry.

Ackroyd who took on the role in 2021, will stay with XLMedia until March 31 and the company has already started searching for a replacement.

XLMedia recently reorganized selling noncore media assets and focusing solely on iGaming, resulting in a 14% reduction in its workforce.

 

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Caroline Ackroyd's decision to step down as CFO of XLMedia marks a notable change in the company's leadership. Since assuming the position in 2021, Ackroyd has likely played a significant role in shaping the company's financial strategy and managing its resources.

It's worth noting that Ackroyd's departure seems to be driven by her desire to explore new opportunities within the gambling industry. This suggests that she might have gained valuable experience and industry knowledge during her time at XLMedia, which she aims to leverage in her next endeavor.

With a departure date set for March 31, XLMedia's management is already proactively seeking a new CFO. Finding a suitable replacement for Ackroyd is crucial to ensure a smooth transition and maintain financial stability within the company. The hiring process will likely involve meticulous evaluation of candidates who possess strong financial acumen and experience in the gambling industry.

XLMedia's recent reorganization is also worth noting. By divesting non-core media assets and shifting its focus exclusively to iGaming, the company is aiming to consolidate its operations and pursue growth opportunities in a more streamlined manner. This strategic move suggests that XLMedia is aligning its business model with the current trends and demands of the iGaming market.

However, it's essential to acknowledge that this transition resulted in a 14% reduction in the company's workforce. While streamlining operations can lead to improved efficiency and cost-effectiveness, such workforce reductions can create uncertainty among employees and require careful management to maintain morale and productivity.

Overall, XLMedia's leadership change and reorganization signify the company's strategic shifts and its commitment to adapt to the evolving gambling industry. The selection of a new CFO will be pivotal in ensuring continued financial success and guiding XLMedia's future growth.