LiveXLive Media announced that Michael Quartieri has been named as its new chief financial officer, effective November 30. Quartieri replaces interim CFO Jerry Gold, who shall continue in his current role as the company's chief strategy officer and a member of the company's Board of Directors.
Quartieri spent the past five years as executive vice president and chief financial officer at Scientific Games. He managed over $700 million in acquisitions and in 2019, he spearheaded the successful $324 million IPO of the company's subsidiary, SciPlay Corp. During his time at Scientific Games, revenue grew to approximately $3.4 billion and a market capitalization of approximately $2.5 billion at calendar year-end 2019. Starting in 2006, Quartieri spent nine years with Las Vegas Sands Corp. ending his tenure as senior vice president, chief accounting officer and global controller. During his time at Las Vegas Sands, revenue grew from $2.24 billion to $11.69 billion and the market capitalization grew to $36.4 billion. Previously he spent 13 years at Deloitte & Touche, rising to the position of director of audit and assurance services, specializing in gaming and hospitality. Quartieri holds a master of accounting and a bachelor of science in accounting from the University of Southern California and is a Certified Public Accountant.
"After an extensive review of LiveXLive, its product offerings and current positioning within the livestream, on-demand audio, video and podcast sectors, I believe the critical pieces are in place to build the company into a significant enterprise. I am particularly excited about working with the Company's highly accomplished and experienced management team," said Quartieri.
LiveXLive CEO and Chairman, Robert Ellin, stated, "Mike brings an exceptional track record to LiveXLive and is a renowned and highly respected executive within the gaming and entertainment industry as well as among institutional investors and analysts. His broad business acumen in operations, mergers and acquisitions, international business, capital formation, and investor relations will be a great asset to our management team."