Global gaming supplier Light & Wonder, Inc is on the lookout for a new Chief Financial Officer after Connie James – the company’s Executive Vice President, CFO, Treasurer and Corporate Secretary – announced she will step down on 25 August.
According to an overnight release, James is looking to pursue another opportunity that will “allow her to further advance her long-term professional objectives outside the gaming industry”.
She will be replaced on an interim basis by current Light & Wonder Senior Vice President of Corporate Finance, Oliver Chow, with the company having initiated a search process to identify its next CFO. A leading search firm has been engaged to assist in evaluating both internal and external candidates for the role, Light & Wonder explained.
“Connie has played a key role in advancing Light & Wonder’s cultural and financial transformation, which has led to operational excellence, double-digit growth and a strengthened balance sheet,” said Light & Wonder CEO, Matt Wilson. “She also helped us build a deep and talented finance team that will help provide a smooth transition to the next chapter of financial leadership within the company. On behalf of the Board and management team, I wish her well in her future endeavors.
“We are pleased and fortunate to have a leader of Oliver’s caliber step into the role of Interim CFO. With more than 15 years of entertainment and gaming leadership experience and deep financial expertise, we are confident that Oliver is well-positioned to support the continued execution of our financial priorities while the Board conducts its search.”
Chow joined Light & Wonder in October 2022, having previously spent five years in senior-level finance roles at Aristocrat, most recently as Chief Financial Officer – Americas, EMEA and Customer Experience.
He has also worked in various financial roles with Universal Pictures, Deluxe Entertainment Services and JPMorgan Chase & Co, and is currently a Board member and Treasurer of United Way of Southern Nevada.
In announcing its CFO transition, Light & Wonder added that it has reaffirmed its previously announced target of US$1.4 billion in consolidated Adjusted EBITDA by 2025, noting that the company “continues to show strong financial performance on all key metrics in 2023 and looks forward to sharing its Q2 results in August.”
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