Kambi senior VP of finance departs after almost six years

Kambi’s senior VP of finance Phil Richards has announced that he has left the sports betting supplier after nearly six years with the firm. Richards joined the company in January 2017 as the group’s financial controller before being made US general manager (GM) in April 2019 and swapping London for Philadelphia. Richards served as Kambi’s US GM for just over a year as he helped develop the group’s stateside presence. He was then promoted to the role of SVP of finance in January 2021 where he was responsible for all aspects of Kambi’s finance strategy. The finance professional was also responsible for managing Kambi’s global network of office general managers. Richards has already announced that he has moved away from the igaming industry and taken a role with computer and network security company, Corero Network Security. His role at Kambi was Richards’ first, and so far only role, in the industry, as he previously held positions at oil and gas giant Shell and financial firm KPMG. In a post on LinkedIn, Richards said: “After a fantastic six years at Kambi, I’m delighted to be joining Corero Network Security as chief financial officer. Many thanks to all at Kambi for the epic journey, and I’m thoroughly looking forward to this new chapter.” Elsewhere, Kambi recently announced it had its most challenging quarter in Q3 2022 as revenue slumped by 12%. CEO Kristian Nylén said: “The third quarter is always the most challenging for the sports betting industry given the quiet sporting calendar and this year was no exception. “It was also a quarter marked by growing global economic uncertainty and higher cost of living, trends which show little sign of subsiding any time soon,” he added.