DraftKings Strengthens Team with Major Internal Promotions

DraftKings announced two internal promotions, naming Jason Park and Alan Ellingson as chief transformation officer and chief financial officer, respectively.

According to the company, Park, currently serving as CFO, will vacate the role to instead oversee the company’s transformational efforts. The newly created role will see him “lead initiatives to deploy cutting-edge technologies to capture additional operating efficiencies.” Park will also be tasked with overseeing the proposed acquisition of Jackpocket.

Park joined DraftKings as CFO in June 2019 and oversaw the operator’s transition to the public markets. He played a key role in boosting the company’s revenue from $323 million in 2019 to $3.6 billion in 2023, allowing the operator to produce positive adjusted EBITDA in Q2 and Q4 of 2023.

Thanks to Park’s efforts, DraftKings’ share price grew by over 325% since its initial trading day.

In the meantime, Ellingson, DraftKings’ senior vice president of finance and analytics, will step into the role of CFO. In this position, the appointee will continue to enhance shareholder value and help the operator achieve its financial goals.  

Ellingson became a part of DraftKings’ team in 2020 and has, for the past four years, worked closely with Park on developing a world-class finance and accounting organization.

Both individuals are set to step into their new offices on May 1.

CEO Robins Trusts Park and Ellingson

Jason Robins, DraftKings’ co-founder and chief executive officer, commented on the two appointments, saying that he is “very excited to elevate” the two men. He praised the long-term employees for their hard work over the past few years and highlighted their understanding of DraftKings’ core values.

Robins added that Park’s skill set made him perfect for the newly created position and will allow the company to further improve its operations.

I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years.

Jason Robins, co-founder & CEO, DraftKings

Robins added that Park is poised to unlock the benefits of the proposed acquisition of Jackpocket. He added that the new chief transformation officer will be in the perfect position to capitalize on the advantages offered by the rapid developments of AI-based solutions.

Park commented on his appointment, lauding the opportunity to unlock potential new benefits for DraftKings. He also said that Ellingson is perfectly suited to be his successor in the CFO role.

I look forward to assisting with this transition and continuing to deliver value for our shareholders. We will provide more information on the transformation program during our next earnings call.

Jason Park, incoming chief transformation officer, DraftKings

Finally, Alan Ellingson said that he is looking forward to expanding his leadership role and working closely with Robins on driving success. 

We have built a world-class finance organization, and I look forward to expanding my leadership role with the team. In addition, I look forward to working closely with Jason Robins to deliver outstanding financial performance and generate incredible shareholder returns.

Alan Ellingson, incoming chief financial officer, DraftKings

Speaking of DraftKings, the company just escalated its prosecution against its former VIP head.