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DraftKings appoints new CFO and Chief Transformation Officer

EditorRachael Rajan
Published 03/18/2024, 04:38 PM
© Reuters.
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BOSTON - DraftKings Inc. (NASDAQ: NASDAQ:DKNG), a digital sports entertainment and gaming company, today announced significant changes to its executive team, with Jason Park transitioning to the role of Chief Transformation Officer and Alan Ellingson being promoted to Chief Financial Officer, effective May 1, 2024.

Park, who has served as DraftKings' CFO since June 2019, will focus on driving operational efficiencies and integrating the proposed acquisition of Jackpocket Inc. Under his financial leadership, the company witnessed substantial revenue growth, from $323 million in 2019 to $3,665 million in 2023, and saw its stock price increase by more than 325% since its initial trading day.

Ellingson, currently Senior Vice President of Finance and Analytics, will take over as CFO, continuing to work towards the company's financial goals. Both appointments are seen as strategic moves to enhance shareholder value and position DraftKings for future growth, particularly in the U.S. online gaming market.

DraftKings CEO and Co-Founder Jason Robins expressed confidence in both executives' abilities to lead the company through its next phase of growth, citing Park's track record and Ellingson's deep understanding of the company's financial drivers.

The announcement comes as DraftKings continues to expand its operations, with sports betting and iGaming platforms available in multiple states and provinces in North America. The company is also an official partner of several major sports leagues, including the NFL, NHL, PGA TOUR, and UFC.

The information provided is based on a press release statement from DraftKings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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