Light & Wonder, a leading company in the gaming industry, strengthens its leadership team with the appointment of Michael Marchetti to its Board of Directors.
Michael Marchetti joins the board following his tenure as the Director of SciPlay Corporation, which was acquired by Light & Wonder in October 2023. With an impressive professional trajectory, Marchetti has held pivotal roles in renowned gaming companies including CEO of Buffalo Studios, Co-Founder and Board Member of Little Labs, and the Senior Vice President and General Manager of Pogo, Social Games & Mobile at Electronic Arts (EA). Currently serving as the Chief Financial Officer and Executive Committee Member at Age of Learning, Marchetti’s appointment at Light & Wonder is effective January 15, 2024.
The position will undergo standard re-election procedures during the annual meeting later this year, reflecting the company’s commitment to excellent corporate governance practices.
Jamie Odell, Executive Chair of Light & Wonder, expressed satisfaction with Marchetti’s appointment, highlighting his extensive experience in mobile gaming and finance. Odell stated,
“We are pleased to welcome Michael to the Light & Wonder Board as a new independent director. Michael has a wealth of mobile gaming experience and a strong financial background that will help us continue to maximise value for our shareholders.”
Marchetti, an alumnus of Brooklyn College with a BA in Political Science and Philosophy, followed by studies at Brooklyn Law School, conveyed his enthusiasm about joining Light & Wonder’s Board. “I’m excited to join the Light & Wonder Board at this time,” he remarked. “Light & Wonder is operating from a position of strength, and I look forward to applying my experience and passion for the business, along with my fellow directors, to deliver value to the shareholders of this great company.”
In its recent Q3 report, Light & Wonder showcased substantial growth, with a 300% annual increase in net income, surging to $80 million. This achievement marked a remarkable 1,500% rise from Q2 2023, demonstrating the company’s outstanding performance and strategic advancements in the gaming landscape.
