Michael Daly has resigned from his role as the chief executive of Catena Media, leading the firm to designate a temporary CEO to manage a transitional phase. Daly’s exit is effective promptly and comes after talks with the board. Assuming the position of interim CEO is Pierre Cadena, presently the Senior VP of Strategic Alliances, while Daly will remain in a consulting capacity.
The Chairman of the Board, Yorgen Blomberg, commended Daly’s efforts, emphasizing how he had been crucial in establishing Catena Media as a dominant force in the North American market. Blomberg also noted the company’s strategic endeavors that resulted in a more streamlined operation and decreased liabilities.
Nevertheless, Blomberg recognized the necessity for fresh leadership to navigate the obstacles of a decelerating market and to execute the subsequent stage of expansion plans. Daly joined Catena Media in 2018 and ascended to the CEO role in March 2021. His departure arrives at a juncture when the company is aiming to fortify its standing and acclimate to a shifting environment.
These shifts encompass recent actions like venturing into the Vermont online sports wagering market. Despite these endeavors, Catena Media’s latest reports suggest…
Catena Media witnessed a decline in earnings during the final quarter of 2023, although this was not unforeseen. The firm strategically opted to allocate substantial resources to foster upcoming natural expansion. In spite of obstacles within the North American sector, Chief Executive Michael Daly maintains a positive outlook. He emphasized the company’s proactive internal investment strategy, especially in the realms of technology and artificial intelligence, intended to position Catena Media as a leader within the iGaming affiliate marketing domain. Projecting forward, Catena Media has established ambitious fiscal targets for the 2024-2026 period, striving for double-digit natural growth in both revenue and adjusted EBITDA. Daly’s perspective on the company’s trajectory was also recently showcased in Gaming America publication.
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