Jumbo Interactive begins search for new CFO

Sydney-listed online lottery provider Jumbo Interactive has begun a search for a new finance chief to replace David Todd, who is stepping down for health reasons.

Todd has been Jumbo’s chief financial officer for the past sixteen years, but has advised the company’s Board of his intention to resign due to unforeseen personal health reasons.

He will continue in the role until a suitable replacement is appointed.

“David has made an enormous contribution to Jumbo's success over the past 16 years,” said Jumbo CEO and founder Mike Veverka. “He has played an integral role not only as CFO, but also as a valued member of the KMP [key management person], and the Jumbo family.

“His invaluable insights, incomparable work ethic, and unwavering commitment to the team are an inspiration to all of us. The Board, management team and all our people within Australia, Canada and the UK wish him and his family the very best for the future.”

A comprehensive recruitment process is currently underway and will consider both internal and external candidates, with the Board expecting to be in a position to announce a new CFO later this year.

Following the commencement of a new CFO, Todd will remain with Jumbo in an advisory capacity for as long as required to ensure a smooth transition.

“Dave continues to be supported by a high performing and experienced team, with key members of the finance leadership team having been in their roles for over 15 years,” continued Veverka. “In true Dave-fashion, he has agreed to assist us to make sure the transition to the new CFO is as seamless as possible.”

Shares in Jumbo Interactive Ltd (ASX:JIN) closed 0.14 per cent higher at AUD$14.66 per share in Sydney Monday.