Manuel Stan
Manuel Stan is the Chief Executive Officer of Catena Media, a leading iGaming affiliate company. He assumed the role on July 1, 2024, bringing nearly two decades of experience in the online gambling industry, including a 16-year tenure at Kindred Group. Stan oversees Catena Media’s global operations, with a strategic focus on strengthening the company’s presence in the North American market.
Bio
From Kindred to Catena
Stan’s career prior to Catena Media is most closely associated with Kindred Group, where he spent over 16 years. He joined the company during a period of rapid change in the online gambling sector and quickly rose through the ranks—from Head of Digital Marketing to Marketing Director, before taking on the role of SVP and General Manager for North America in 2018.
At Kindred, he played a central role in shaping the company’s affiliate strategy and was deeply involved in customer acquisition, business development, and financial planning. His time there coincided with Kindred’s entry into the U.S. market following the repeal of PASPA, giving him direct exposure to one of the most complex and competitive regulatory environments in global gambling.
Taking the Reins at Catena Media
Stan joined Catena Media at a turning point for the Malta-based affiliate giant. Following a period of underperformance and structural review, he was brought in to lead a strategic reset after the departure of former CEO Michael Daly.
Now based in Las Vegas, he oversees the company’s global operations with a renewed focus on North America—a market still growing, but facing increasing competitive and regulatory pressure. His appointment marked a shift toward tighter alignment between affiliate content strategies and operator outcomes, as well as a push to rebuild trust among investors.
Restructuring Catena Media in 2024–2025
Stan took over as CEO amid declining revenues, rising costs, and the need for a leaner operating model. In response, he launched a company-wide restructuring program aimed at cost efficiency and long-term sustainability.
One of the most significant moves was a 25% workforce reduction, completed in late 2024. These changes helped lift the company’s adjusted EBITDA margin from 5% in Q2 to 15% by year-end.
Still, 2025 remains a challenging year. Revenue in North America—Catena’s core market—has come under pressure due to a slowdown in regulatory expansion and changes to Google’s search algorithm, which have impacted affiliate visibility. Stan has responded by diversifying the company’s focus: supporting regulation for sweepstakes casinos, and exploring new verticals such as prediction markets.
Academic and Executive Foundations
Stan holds a Bachelor of Science in International Business and Economics from the Bucharest University of Economic Studies and completed an Executive Management Programme at Yale School of Management. His combined background in data-driven marketing and executive leadership has positioned him to manage transformation at scale in a complex, regulated industry.