James Sottile (pictured), executive vice president and chief legal officer of gaming equipment and online content provider Light & Wonder Inc, is to leave the company at the end of 2025. The announcement was made by the company in a filing to the Nasdaq on Friday, which also stated that Susan Dawson, the company’s current senior vice president and deputy general counsel, would succeed Mr Sottile and assume the role of chief legal officer.
Ms Dawson joined Light & Wonder in 2012, and is based in the United Kingdom. She has served as a senior vice president and deputy general counsel since 2018.
As part of her new role, she will relocate to Las Vegas, Nevada, in the United States, Light & Wonder stated.
The company said Mr Sottile had notified it on June 16 that he would “retire from the company, and that his last day of service” would be December 31, 2025.
The filing added that Ms Dawson would also succeed Mr Sottile in the role corporate secretary upon his retirement.
According to the gaming equipment provider, “in order to ensure a smooth transition” of Mr Sottile’s duties and responsibilities, he has agreed to provide consulting services to the company throughout full-year 2026.
He will receive a monthly consulting fee of US$11,959, “which is 20 percent of Mr Sottile’s base salary for fiscal year 2025,” Light & Wonder said.
Last month, the company announced it aims to achieve annual consolidated adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of US$2.0 billion by 2028. This would represent an overall growth rate of 42.9 percent over a three-year period, from a targeted adjusted EBITDA of US$1.4 billion in 2025.
For full-year 2024, Light & Wonder reported revenue of US$3.19 billion, up from US$2.90 billion in 2023. Net income more than doubled, reaching US$336 million. Consolidated adjusted EBITDA last year stood at US$1.24 billion.
