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Catapult share price higher after naming former Amazon executive as its new CEO

The Catapult Group International Ltd (ASX: CAT) share price has pushed higher in morning trade after naming its new CEO.

At the time of writing the sports analytics and wearables company’s shares are up 1.5% to $1.46.

What did Catapult announce?

This morning Catapult announced the appointment of Will Lopes as its new chief executive officer, commencing November 11.

According to the release, the new chief executive has world-class technology and growth experience from one of the world’s most successful technology businesses. Mr Lopes was previously chief revenue officer of Amazon subsidiary, Audible.

Mr Lopes will relocate from New York and be based out of Catapult’s Boston office.

The release explains that Mr Lopes was attracted to Catapult’s global market leadership, strong history of innovation, and a revenue line that reached scale in FY 2019.

He is said to be “excited by the opportunity to lead the company during a period of significant potential in a largely untapped market, and passionately believes that Catapult can grow substantially from its current size.”

One of his main focuses when commencing in the role will be accelerating the development and international roll-out of Catapult’s unique platform underpinning its elite sports performance technology stack.

The company appears confident his past experiences will help him deliver on this. It notes that the new chief executive personally scaled the Audible business internationally to help reach millions of customers across 40 different languages, and developed extensive enterprise partnerships to accelerate this customer growth.

Mr Lopes said: “I am excited to bring my many years of executive experience and leadership to focus on improving the experience for our elite customers, and scaling our technology, processes and teams to help Catapult reach even more ambitious milestones.”

“What attracted me to Catapult is its global technology leadership and the huge opportunity to keep innovating and redefining the performance of elite teams and athletes globally. Catapult is a business with strong financial fundamentals that has the potential to become the Salesforce of the sports performance technology world,” he added.

Catapult Executive Chairman Dr Adir Shiffman said the company was delighted to appoint an international executive of Mr Lopes’ calibre.

Dr Shiffman concluded: “With Will as CEO, the Board is confident that we have a leader with global experience, huge ambition, and the proven ability to help us create the most impactful and successful technology company in world sport.”

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Catapult Group International Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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