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Catena Media has tapped internal hire Michael Gerrow as the business’ new chief financial officer.

Gerrow will succeed Erik Edeen on 15 April, who had been appointed to the position in an interim capacity in May 2023.

Catena said Edeen focused on improving Catena’s operating model and financial position and will continue to support the company in a strategic advisory role.

The current VP of finance has 15 years’ experience in the iGaming, marketing and health sectors, joining Catena’s Malta-based operations in 2020.

In his present role, Gerrow leads the company’s financial planning and analysis function.

The affiliate marketing business highlighted Gerrow’s bachelor’s degree in commerce from Dalhousie University and his accounting qualifications from CPA Canada and ACCA UK.

“We are delighted to see Michael step into the role of Group CFO,” said interim CEO Pierre Cadena.

“His extensive experience and deep understanding of our financial operations make him exceptionally well-suited to lead our financial operations going forward.

“Michael’s transition to this role will provide strategic continuity in our executive management team, supporting Catena Media as we continue on the next phase of our journey.”

Stormy waters

Gerrow will take charge of Catena’s financials at a tumultuous time for the business. Revenue fell 41% to €14.5m in Q4 2023.

It comes in the aftermath of the resignation of CEO Michael Daly in the face of investor backlash and poor financial results.

Kindred Group veteran Manuel Stan was announced as permeant CEO last month, due to start 1 July.

Catena’s share price has tumbled 62% of the past years, in the wake of a strategic review that saw it sell its flagship AskGamblers brand to GiG.

In February, STS founder Mateusz Juroszek called for management to step down.

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