Perform CFO Surtees to step down
David Surtees set to leave at the end of the month just weeks after downgraded profit forecasts at the firm
Perform Group’s chief financial officer David Surtees will leave the company at the end of January, the company announced this morning.
Surtees has spent more than five years with Perform since joining the sports data firm from independent TV producer Shine in 2008. The search for his replacement has begun.
His departure comes a month after Perform was forced to issue a full-year profit warning, causing its share price to half. It reported revenues for 2013 will be 6% lower than previous expectations and EBITDA “significantly” under earlier forecasts.
Speaking with eGaming Review this morning, a spokesperson for Perform dismissed suggestions of a link between Surtees’ departure and the profit warning issued in December.
“After five years at the Group, David just thought now was the right time to step down,” the spokesperson said.
The spokesperson was unable to confirm what Surtees’ would do next but said Perform may hire an interim CFO as a short term replacement.
Perform Group listed on the London Stock Exchange in 2011 and during Surtees’ tenure has completed a number of acquisitions including sports data company Opta for £40m in 2013 and RunningBall for £120m in 2012.
“On behalf of the board, I would like to thank David Surtees for his significant contribution over the last six years,” Paul Walker, Perform’s non-executive chairman, said. “David joined shortly after the formation of the Group and has helped to grow and build the business. We wish him well for the future.”