Veteran executive Manuel Stan appointed as CEO of online media company Catena Media
Manuel Stan has been appointed as the new CEO of Catena Media, following the resignation of previous CEO Daly, who stepped down due to the financial downturn the company is currently facing.
Stan brings a wealth of leadership skills and experience to the table, having worked on both the operator and affiliate sides of the business. He has extensive experience within the industry and a deep understanding of the North American market.
While detailed information about Stan's career history and impact on Kindred Group's affiliate marketing program before joining Catena Media as CEO is not readily available, he is well-known in the iGaming and affiliate marketing industry for his leadership roles. Prior to joining Catena Media, Stan spent 16 years at the Kindred Group, holding various marketing roles, and played a crucial part in shaping the operator's affiliate marketing program.
The effectiveness of Stan's appointment in steering the business toward growth remains uncertain amidst the evolving landscape of US online gaming. Catena Media reported a 41% decline in revenue to €14.5 million in Q4 2023, accompanied by an 88% drop in adjusted EBITDA.
Daly attributed the decline to market headwinds, including intense competition and reduced cost-per-acquisition rates paid by operators. The company sold its flagship AskGamblers brand to competitor GiG for €45 million as part of a strategic review process.
Despite these challenges, Stan expressed his excitement about driving Catena Media forward and working with the teams to capitalise on opportunities. Göran Blomberg, the chair of Catena Media, expressed confidence in Stan's ability to lead the company forward.
Stan will begin his role on July 1, 2024, and will operate from Las Vegas. He will take over the North American and global operations of Catena Media. In his statement, Stan highlighted the new investments in AI as a pivotal driver for future growth.
As of now, Catena Media plc (CTM.ST) is trading at SEK9.21 (-3.61%). Stan's tenure at Kindred Group saw significant growth and innovation in the affiliate marketing operations, and it remains to be seen how his leadership will impact Catena Media in the coming months.
- In his role at Catena Media, Manuel Stan aims to drive growth by investing in AI technology, a move that could potentially revolutionize the company's operations, given his proven track record in technology-driven business solutions.
- Beyond finance and business strategy, Stan's background in sports, specifically his long-term association with Kindred Group, offers a unique perspective that could benefit Catena Media's approach to affiliate marketing, a sector increasingly influenced by technological advancements and sports-related partnerships.
