Craig Felenstein is set to step into the shoes of Gerrard Griffin, who is slated to depart Sportradar by the end of May, as confirmed by the company earlier this year.
Felenstein brings with him a wealth of experience, having most recently served as the CFO of Lindblad Expeditions since September 2016.
Prior to this, he held the position of senior vice-president of investor relations and strategic finance at Shutterstock.
His career journey also includes a notable stint at Discovery Communications, where he occupied various senior investor positions, culminating in his role as executive vice-president of investor relations.
Felenstein also contributed his expertise to News Corporation and held multiple financial positions at Viacom.
Expressing his enthusiasm for joining Sportradar, Felenstein remarked, “Sportradar has built an impressive leadership position in the rapidly growing global sports technology market.
The company is ideally situated to deliver sustained growth given their strong content portfolio, unmatched product offerings, and commitment to industry innovation.”
Sportradar CEO Carsten Koerl voiced his confidence in Felenstein, citing his extensive international experience and successful track record in building finance organizations.
Koerl anticipates Felenstein’s contribution to be instrumental in driving the company’s continued success.
Felenstein’s appointment comes amidst a broader reorganization within Sportradar.
The restructuring initiative, aimed at streamlining the company’s global organizational structure, introduces six distinct business functions.
Notable changes include Warren Murphy assuming the role of chief delivery and operations officer, Nick Maywald transitioning to chief growth and innovation officer, and Eduard Blonk leading the commercial function as chief commercial officer.
In addition to these changes, Lynn McCreary now oversees legal, risk, and administrative services, while Severine Riviere-Gerstner takes charge of the people sector as chief people officer.
The departure of Griffin as CFO marks a significant transition, coinciding with the exit of chief strategy officer Ulrich Harmuth, who is pursuing other endeavors within the industry.
Sportradar’s recent financial report for 2023 showcases robust performance, with revenue reaching €877.6m, driven by growth in the US market.
The company achieved a total profit from continuing operations of €34.6m, marking a substantial increase from the previous year.
Looking ahead to 2024, Sportradar aims for continued growth, targeting a year-on-year revenue increase of 20.0% and a stable adjusted EBITDA margin of 19.0%.