by Mateusz Mazur

Leadership Transition at Catena Media: Michael Daly Steps Down

Catena Media has announced a significant leadership change with the resignation of CEO Michael Daly, effective immediately.
This decision comes after thorough deliberations between Daly and the board of directors. Pierre Cadena, currently serving as VP of Corporate Strategy, will step into the role of interim CEO.
Daly, who has been a pivotal figure in Catena Media’s expansion, particularly in the North American market, will remain accessible to the company during the transition phase. The search for a new CEO is set to commence promptly.

Growth and Strategic Review Under Daly’s Tenure

Under Michael Daly’s stewardship, Catena Media has made substantial strides in the North American sector and has undergone a strategic review leading to a significant debt reduction and organizational streamlining.

Despite these achievements, the company is now at a juncture where it is experiencing slower growth, prompting the initiation of various growth strategies.

Board’s Perspective on Leadership Change

Göran Blomberg, Chairman of Catena Media’s Board of Directors, commended Daly’s contributions but emphasized the need for new leadership to spearhead the company’s forthcoming growth initiatives. “Under Michael Daly’s leadership, Catena Media has become an active player in North America and with the actions taken during the strategic review, we have significantly reduced our debt and streamlined the organisation. With the company facing lower growth, we have started to implement a number of growth initiatives. As we embark on this crucial stage, we are seeking new leadership to drive these initiatives and move Catena Media into its next chapter.” he said.

Our Commentary on Catena Media’s Leadership Shift

The leadership transition at Catena Media marks a pivotal moment for the company as it seeks to navigate through a period of slower growth and embark on new growth strategies. The decision to seek fresh leadership reflects the company’s commitment to adaptability and innovation in a rapidly evolving iGaming industry.

As Catena Media prepares for this new chapter, the industry will be closely watching the impact of this change on the company’s strategic direction and its ability to maintain its momentum in the competitive iGaming landscape.

Related posts