Sportradar chief strategy officer departs amid organizational restructure

Sports data technology provider Sportradar has named a new executive leadership team as part of its restructuring.

The additional strategic actions are part of the company’s previously announced initiatives to streamline its organizational structure.

“I am excited to announce this new global organization and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth,” said Sportradar CEO Carsten Koerl. “By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business.

“These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us. I am confident we have the right leaders in place, intently focused on executing on our strategic priorities. For 2023, we remain on track to deliver on our strong growth targets and are well positioned to maintain that momentum into 2024.”

The new organizational structure consists of six business functions:

Product Delivery and Operations - led by Warren Murphy, previously chief product officer and now chief delivery and operations officer

Growth and Innovation - led by Nick Maywald, previously chief content officer and now chief growth and innovation officer

Commercial - led by chief commercial officer Eduard Blonk

Legal, Risk and Administrative Services - led by Lynn McCreary, chief administrative officer, chief legal officer and corporate secretary

People - led by chief people officer Severine Riviere-Gerstner

Finance - led by chief financial officer Gerard Griffin

Griffin has informed the company, however, that he will be leaving for personal reasons. He will continue as CFO until 31 May, unless a permanent successor is found earlier.

“I want to thank Ger for his contributions to Sportradar,” continued Koerl. “He has meaningfully strengthened our finance team with a deep and talented bench that will continue to contribute to the company as we look to drive growth and profitability into the future. We look forward to continuing to benefit from his leadership while we search for a permanent successor.”

As part of the organizational changes, Sportradar’s chief strategy officer Ulrich Harmuth will be leaving the company after nearly 11 years’ service to pursue other endeavours.

“I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success,” added Koerl. “For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavors.”

Sportradar also reaffirmed its fiscal 2023 guidance of revenue in the range of €870 million to €880 million, representing year-on-year growth between 19 per cent and 21 per cent.

Adjusted EBITDA is expected to be in the range of €162 million to €167 million, representing growth of between 29 per cent and 33 per cent, and adjusted EBITDA margin in the range of 18.4 per cent and 19.2 per cent.

The company also reaffirmed its fiscal 2024 outlook for revenue and adjusted EBITDA growth of at least 20 per cent.

Shares in Sportradar Group AG (NASDAQ:SRAD) closed 0.38 per cent higher at $10.45 per share in New York Friday.