Sportech appoints Thomas Hearne as CFO furthering US ambitions

London-listed racing and betting systems provider Sportech Plc has ended its +6 month search for a new corporate financial leader, confirming the appointment of Thomas Hearne as new Group Chief Financial Officer (CFO).

Hearne is expected to take official Sportech CFO duties on 14 May, and will be further appointed to the firm’s Board of Directors.

Sportech governance had begun its search for a new CFO in September 2017, following the double executive departure of Ian Penrose (CEO) alongside Mickey Kalifa (CFO).

A seasoned executive in sports finance and funding, Hearne joins Sportech’s senior executive team from Toronto-based sports content and data distributor theScore Inc.

Hearne will work alongside new Sportech CEO Andrew Gaughan, as the company seeks to expand its US-facing operations, whilst continuing its European focused cost-cutting program.

Commenting on the appointment, Andrew Gaughan, CEO said, “We are pleased to have secured Tom’s talent to the Group.  His experience in the fields of digital technology and sports media, and his long track record of driving growth, increasing profitability, and executing successful M&A transactions, perfectly aligns with our commitment to deliver transparent financial reporting and tangible growth for our shareholders.”

Publishing its 2017 results, Sportech governance detailed that the company would migrate its leadership team to Toronto, to help drive the firm’s accelerated US growth strategy.

Tom Hearne commented on joining Sportech Plc executive team:  “I am very happy to be joining the Sportech Group and I look forward to working closely with Andrew, the Sportech Board, and Senior Management to deliver on core objectives and maximise the potential of the Company’s opportunities.”