Esports Entertainment Group has officially appointed Michael Villani as its Chief Financial Officer (CFO), a role he held on an interim basis since January.
Villani's promotion follows his over two and a half years as the company's financial controller. In addition, Villani serves as the company’s Principal Financial Officer. Before joining Esports Entertainment Group, he spent 18 years at KPMG, including nine as both director and manager within accounting advisory services.
Villani was also previously employed as the Chief Financial Officer of a Geneva-based hedge fund and has held other senior accounting-level roles at public companies. Mr. Villani is a CPA and is a graduate of Pace University, magna cum laude.
Esports Entertainment CEO Alex Igelman praised Villani's contributions to the company, stating: "We have witnessed Michael’s leadership and operational and financial skills first-hand as we have restructured the company over the past several months, improving our balance sheet, divesting, or closing non-core business lines to streamline operations, and increasing operational efficiencies across the company."
This appointment marks a key development for Esports Entertainment Group, which has been undergoing restructuring efforts over the past several months. The company, which previously faced challenges that cast doubt on its future, has been implementing measures to ensure its sustainability and growth.
In April, CEO Alex Igelman outlined the company's plans for business-to-consumer (B2C) expansion and divestment efforts. This included a focus on expanding B2C offerings through the Idefix platform and multiple divestment initiatives, such as the sale of Bethard in February.
Furthermore, Esports Entertainment Group has reduced its employee headcount by more than 37% this year, streamlining its operations. With these strategic moves, the company aims to position itself for long-term growth and value creation.