DraftKings Unveils Senior Management Reshuffle; Park Transitions to Chief Transformation Officer

DraftKings has announced a significant shake-up in its senior management team.

Jason Park, who has served as CFO for nearly five years, will step down from his role as chief financial officer (CFO) to assume the newly established position of chief transformation officer effective May 1st.

Park will focus on driving operational efficiencies and overseeing the integration of the proposed acquisition of Jackpocket.

DraftKings co-founder and CEO Jason Robins expressed confidence in Park's ability to capitalize on significant efficiency opportunities, citing his extensive experience and accomplishments during his tenure as CFO.

Replacing Park as CFO is Alan Ellingson, who is currently serving as senior vice president of finance and analytics at DraftKings.

Ellingson, who joined DraftKings in 2020, is tasked with advancing the company toward its financial objectives and maximizing shareholder value.

The reshuffle comes amidst DraftKings' robust financial performance, with revenue up 63% to $3.7 billion in 2023 and improved forecasts for 2024.

DraftKings anticipates reporting its first full year of positive adjusted EBITDA in 2024, with earnings projected to reach up to $510 million, alongside revenue estimates ranging between $4.65 billion and $4.90 billion.