Date: 14.06.2024

by Adam Dworak

Fiona Ewins Brown to Exit Catena Media as Leadership Restructures Continue

Fiona Ewins Brown, who joined Catena Media in September 2015, will leave the company at the end of June. Catena Media has commended her significant contributions, highlighting that her “leadership has been a cornerstone for the company and instrumental in shaping our company’s culture and driving success.”

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Brown’s Distinguished Career

Before her tenure at Catena Media, Brown held several prominent roles. She served as Director of Talent Management at GFI Software from January 2013 to October 2014 and as Human Resources Director from January 2009 to December 2012.

Prior to GFI Software, she worked at Morgan Stanley in London as a Human Resources Director from 2006 to 2007 and as an HR Manager from 2004 to 2006. Brown also spent five years at Ernst & Young in Sydney, Australia, as a People and Culture Manager from 1999 to 2004.

Farrugia’s Promotion

In conjunction with Brown’s departure, Catena Media has announced the promotion of Jamie-Grace Farrugia to Vice President of Human Resources. Farrugia, who currently serves as Head of HR Operations, has been with Catena Media since February 2022.

Prior to her current role, she was the company’s HR Operations Manager from October 2019 to February 2022 and the HR Business Partner from February 2019 to October 2019.

Before joining Catena Media, Farrugia was the Human Resources Manager at White Noise Gaming Limited from March 2017 to February 2019. Her earlier career includes over eight years at Betclic Everest Group, where she progressed through various roles, including Office Manager/HR Representative from October 2008 to December 2011, Office Manager from January 2011 to July 2015, and ultimately HR Business Partner from August 2015 to March 2017.

Catena Media expressed confidence in Farrugia’s abilities, stating, “Jamie has been with the company for over five years and has demonstrated exceptional leadership and HR expertise across the globe. We are confident that her knowledge and expertise will lead us forward, and we are excited about the bright future ahead.”

Ongoing Leadership Changes at Catena Media

Catena Media has been experiencing a series of significant leadership changes. The company recently appointed Kindred Group veteran Manuel Stan as its new CEO, following the resignation of former CEO Michael Daly. Stan is set to assume his role on 1 July.

Additionally, Catena Media announced the internal promotions of Michael Gerrow to CFO and Edward Midolo to CTO. The company also appointed former Fox executive Jasleen Kals as Vice President of Product to lead its new product-first operating model.

Strategic Review and Financial Performance

Amid these leadership changes, Catena Media has been undertaking strategic initiatives to restore profitability. Last month, the company completed a strategic review and announced its decision to retain its core brands. However, it has identified Georgia-facing Crystalbet as non-core and is considering a possible sale, following interest from several parties.

The strategic review was initiated by the board’s Capital Allocation Committee in January to evaluate Catena Media’s portfolio of more than 30 brands. The aim was to optimize the company’s assets and address some shareholder criticisms of its recent acquisition strategy.

In May, the affiliate mentioned that “an aggressive programme of measures” is underway to restore profitability in the second half of 2024. However, visible progress has been limited. On 11 June, the company’s stock hit an all-time low of SEK 5.15, following a similar low in May. Catena Media plc (CTM.ST) is currently trading at SEK 5.85 (5.98%).