Light & Wonder announces departure of CFO Connie James and appointment of interim CFO Oliver Chow
Light & Wonder, a leading company in the gaming industry, has announced a significant change in its executive leadership.
Connie James stepping down from her position
Effective August 25, 2023, Connie James, the Executive Vice President, Chief Financial Officer (CFO), Treasurer, and Corporate Secretary of Light & Wonder, will be stepping down from her position to pursue an opportunity outside the gaming industry that aligns with her long-term professional objectives. Oliver Chow, the current Senior Vice President of Corporate Finance, will assume the role of Interim CFO until a permanent successor is appointed.
The Board of Directors of Light & Wonder has initiated a comprehensive search process to identify the next CFO. To assist in evaluating potential candidates, the company has engaged a leading search firm. Both internal and external candidates will be considered for the role, emphasizing the importance of finding the right individual to contribute to the company’s continued growth and success.
Matt Wilson, the Chief Executive Officer of Light & Wonder, expressed his gratitude for Connie James’ contributions to the company’s cultural and financial transformation: “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. 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.”
Connie James expressed her pride in the accomplishments achieved alongside the talented team at Light & Wonder: “Serving alongside such a talented team has been a highlight of my career, and I am very proud of what we’ve accomplished together. We have scaled our business, evolved our capital allocation strategy and driven considerable efficiencies that have created a stronger, more flexible Light & Wonder. I am confident that Light & Wonder is well-positioned for continued success, and I am focused on ensuring a seamless transition over the coming months.”
15 years of experience
The appointment of Oliver Chow as Interim CFO was met with praise from Matt Wilson:”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.” continued Matt Wilson.
Prior to joining Light & Wonder in October 2022, Chow held senior finance roles at Aristocrat, including Chief Financial Officer for the Americas, EMEA, and Customer Experience. He brings a wealth of experience from his previous roles at Universal Pictures, Deluxe Entertainment Services, and JPMorgan Chase & Co.
Light & Wonder also took the opportunity to reaffirm its target of $1.4 billion consolidated Adjusted EBITDA by 2025, as initially communicated during its Investor Day on May 17, 2022. The company continues to demonstrate strong financial performance across all key metrics in 2023 and looks forward to sharing its second-quarter results in August, providing further insight into its growth trajectory.
With a focus on finding a qualified successor for the CFO role, Light & Wonder remains committed to its strategic objectives and its dedication to delivering value to its shareholders.