Playtech Brings in Two New Non-Executive Directors With Immediate Effect
This week Playtech has made two additions to its company roster in the form of non-executive directors, Anna Massion and John Krumins. Both directors are stepping into their respective corporate advisory roles with immediate effect, following a long and thorough search process by the company. The candidates come approved by Playtech’s investor, SpringOwl Asset Management, after it called on the developer to improve its stock price and overall reputation. Massion and Krumins have a wealth of experience as investment bankers and are no strangers to the gambling industry.
A Brief Overview of Anna Massion’s Prior Experience
Massion joins Playtech with 15 years of experience in asset management and investment banking under her belt. Her CV reads like a who’s-who of financial institutions, with stand-out roles at JP Morgan, Marathon Asset Management, and Hedgeye Risk Management. She currently holds the position of analyst in PAR Capital Management, which is responsible for an asset portfolio worth over $5 billion. In this analyst role she has been responsible for portfolio maintenance and idea generation. All of which are skills Playtech is hoping will boost its reputation among its investors in finance.
An expert in the field of gambling, she has also been an investor in the industry across the US and European markets for the past 5 years. She’s no stranger to Playtech, either. In recent years she has been providing strategic advice to the developer’s management team, and has been described by the company as a global gaming industry expert.
A Look at John Krumins’ Credentials
Of course, Massion isn’t the only new addition over at Playtech. Fellow non-executive director, John Krumins, comes to the company with 20 years of experience, 15 of which were spent as a managing director for Morgan Stanley. In addition to this, he has previously worked at Societe Generale and Deutsche Bank, and is the current chairman of Wavex Technology, a company which deals in business service management products and IT services support.
His experience overall spans multiple industries, making Krumins a real all-rounder. Beyond the positions already mentioned, he has also served as an advisor in the field of technology and data analytics for the likes of Hogg Robinson Group and Intent HQ. When it comes to his background in the gambling industry, Krumins has served on the panel of the UK Competition and Markets Authority, which Playtech considered to be valuable regulatory know-how.
How They Will Aid Playtech Moving Forward
Understandably, the developer is excited about the additions and eager to move ahead as planned. When discussing the issue, chairman Alan Jackson said,
“Our industries continue to develop at pace, and today’s appointments mark another step forward in the evolution of the Playtech board. I will be working closely with everyone involved in Playtech to get the new board members up to speed as we continue to plan for the future.”
With regards to the two new directors specifically, he continued, “I am delighted to have identified two candidates of the calibre of Anna and John and warmly welcome them to the Playtech board. John’s extensive Board-level experience, coupled with Anna’s deep sector knowledge, will allow the board to support Playtech’s role as the leading gambling technology company in regulated markets.”
The overall goal for the pair moving forward is to diversify Playtech’s corporate governance capacities and structure, something they will no doubt take in their stride. Things have been quiet on the Playtech front of late, so such a large in-house change might take punters by surprise. While many outlets have cynically labelled the decision as purely pandering to the company’s investors, the move makes sense in the grander scheme of things. 2019 has seen many developers and operators shake up their teams, both as a response to the looming threat of Brexit and the necessity to evolve in an ever-shifting market. To put it frankly, Playtech – like every other company in the industry – needs to adapt to survive.
Time will tell how this all pans out for the developer, but things certainly look bright for now. Whether or not these additions will have any noticeable effect on the company’s outfit seems unlikely, and players can expect the same level of quality gaming they’ve come to know and love from Playtech.