Lottery.com, a prominent US lottery broker and information portal, has recently witnessed significant changes in its board composition. The company announced the resignation of Vladimir Klechtchev, who served as a board member for a brief period. Additionally, Edward Moffly has been appointed as the interim chief financial officer, replacing Harry Dhaliwal. Amidst these developments, the company has also appointed new outside directors and an independent director to comply with Nasdaq’s requirements.
Vladimir Klechtchev Resigns as Board Member:
In a surprise move, Vladimir Klechtchev has tendered his resignation from Lottery.com’s board, effective immediately. Klechtchev’s appointment to the board had only taken place in September, making his departure particularly noteworthy. However, Lottery.com clarified that his decision to step down was not a result of any disagreement with the company regarding its operations, policies, or practices.
Matthew Howard McGahan Joins as Independent Director:
To fill the vacant board position, Lottery.com has appointed Matthew Howard McGahan as an independent director, subject to background checks. McGahan brings a wealth of experience and philanthropic endeavors to the role. He is the founder of UK charity Mask Our Heroes, which played a pivotal role in procuring and distributing personal protective equipment during the Covid-19 pandemic. Furthermore, McGahan previously founded and later sold the esteemed Harley Davidson dealer, Magic Automotive Group.
Edward Moffly Assumes Role as Interim CFO:
In another significant development, Edward Moffly has been appointed as the interim chief financial officer, succeeding Harry Dhaliwal. Moffly has an impressive track record in the transportation and healthcare sectors. He is the founder of Moveo, a transportation network company, and has served as its managing director since October 2018. Prior to this, he held the position of founder and interim CFO at Hygea Health Holdings, along with being the founder and COO of Denarii Systems.
Sohail Quraeshi Becomes Chief Executive Officer:
Lottery.com has named Sohail Quraeshi as its new chief executive officer. Quraeshi’s appointment is set to bring fresh leadership to the company as it navigates the evolving landscape of the lottery and gaming industries. Alongside Quraeshi, two new outside directors, Vladimir Klechtchev, and Amer Rustom, have joined the board. Richard Kivel, a long-standing director, now serves as the chairman of the board, ensuring compliance with Nasdaq’s requirement of having a minimum of three board members.
Co-Founder Lawrence DiMatteo Transitions to Senior Advisor:
Earlier this year, co-founder Lawrence DiMatteo stepped down from his position as chief executive officer. In the wake of his resignation, DiMatteo now serves as a senior advisor to the board. His continued involvement as an advisor ensures that Lottery.com can benefit from his valuable insights and expertise.
Lottery.com’s recent board transitions and new appointments mark a pivotal moment for the company. The resignation of Vladimir Klechtchev as a board member and the subsequent appointment of Matthew Howard McGahan and Edward Moffly demonstrate the company’s commitment to bringing in accomplished professionals. Additionally, the appointment of Sohail Quraeshi as the chief executive officer, along with the inclusion of new outside directors, signifies Lottery.com’s determination to drive growth and innovation in the lottery and gaming sectors. As the company embarks on a new chapter with this revamped leadership, it stands poised for further success and advancement in the industry.