Less than 48 hours before the start of March Madness, DraftKings announced a major leadership change on Monday night.
On the eve of the NCAA Tournament, DraftKings announced it will shift CFO Jason Park to a new role as chief transformational officer with the company. Under the newly created position, Park will be expected to “address and capture large efficiency opportunities” within various segments of the company, according to CEO Jason Robins. DraftKings will also elevate Alan Ellingson to chief financial officer, effective May 1.
“I have asked Jason to take on a new role that I expect will generate significant incremental profitability over the coming years,” Robins wrote in a statement. “Jason's unique skill set, based on his accomplishments over the last five years as our chief financial officer, will allow us to further improve how we operate.”
Long-term profitability goals
Park, who holds an MBA in finance from the University of Pennsylvania’s Wharton School of Business, joined DraftKings in June 2019, after spending 10 years at Bain Capital. Headquartered in Boston, the private equity firm was co-founded by former Massachusetts Gov. and Utah Senator Mitt Romney in 1984. The firm also has deep ties in the worlds of professional sports and finance. Boston Celtics co-owner Stephen Pagliuca serves as co-chairman, while New England Patriots owner Robert Kraft was among Bain’s early investors.