London listed wagering and racing systems supplier Sportech Plc has this morning disclosed that Group Chief Executive Andrew Gaughan has informed governance of his intention to depart the company.
Updating the market, Sportech confirms that Gaughan will officially leave the company on 28 February 2019.
Gaughan the former Managing Director of Sportech US racing operations, was appointed Group CEO on March 2018, with the company seeking to aggressively expand its services within the newly liberalised US sports betting market post-PASPA.
The announcement sees Richard McGuire, current Non-Executive Chairman, become Sportech Interim Executive Chairman with immediate effect.
In his remit, McGuire will relocate to the Group’s strategic hub in Connecticut, a key state for Sportech’s US sports betting operations.
Sportech governance has begun the executive search process for the identification and appointment of a new Chief Executive, with the company further detailing that it seeks an additional independent Non-Executive Director.
Confirming Gaughan departure, Richard McGuire said: “The Board thanks Andrew for his significant contribution to the Group, and for leading Sportech as CEO over the past year. I will be working closely with Andrew in the coming months, and as of the end of February we wish him well for the future.”
Andrew Gaughan commented: “I have enjoyed my time at Sportech over the past eight years, and I leave the Group in a position of strength with an established core global betting technology business and well placed to take advantage of the opportunities that the US sports betting market presents. I wish Sportech every success in the future.”