Swiss sports technology and data company Sportradar has embarked on the latest phase of its strategic plan, specifically making changes to its business structure.
The company, headquartered in St Gallen and listed on the New York Nasdaq, has introduced six new business departments as part of the restructure, which has coincided with some staff departures.
Of note, Chief Strategy Officer Ulrich Harmuth has confirmed that he will leave the company to pursue other avenues, and Gerard Griffin, Chief Financial Officer, will depart his role no later than 31 May 2024.
Carsten Koerl, Sportradar CEO, remarked: “I want to thank Ger for his contributions to Sportradar. 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. I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success.
“For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavours.”
Regarding the rest of the group’s operations, Product Delivery and Operations will act as a centralised hub for content management, product development and engineering.
This branch will be led by Warren Murphy, who’s job title will be changed from Chief Product Officer to Chief Delivery and Operations Officer.
Meanwhile, the Growth and Innovation department will “facilitate a unified vision for identifying and capitalising on market opportunities” to ensure a steady growth strategy led by Nick Maywald – previously Chief Content Officer and now Chief Growth and Innovation Officer.
The Commercial segment will take on Sportradar’s go-to-market strategy. This will combine sales, client services, sports partnerships, as well as marketing and communications to drive continuous revenue opportunities – with Chief Commercial Officer, Eduard Blonk, leading the division.
As noted, sports partnerships will be a key area of focus for this division. The company is a partner to numerous sports organisations, covering data collection and distribution, audiovisual content and integrity.
Last year saw the firm partner with the likes of ATP and NASCAR, whilst a long-running agreement with the Asian Football Confederation (AFC) was renewed this month.
The final three other divisions – Legal, People, and Finance – will be led by Lynn McCreary, Severine Riviere-Gerstner, and the outgoing Gerard Griffin, respectively.
In the group’s statement, Koerl explained: “I am excited to announce this new global organisation and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth.
“By centralising 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.”
With its Q4 and FY23 revenue report due later this quarter, Sportradar expects its fiscal revenue for last year to stand between €870m-€880m, marking 2% YoY growth. The fiscal 2024 outlook has also been rearranged to include a 20% growth across revenues and adjusted EBITDA.