Lottery Corporation Ltd (ASX: TLC) shares are pushing higher on Thursday morning.
At the time of writing, the ASX 200 stock is up 1% to $5.46.
Why is this ASX 200 stock rising?
Investors have been buying the lottery company’s shares today after it announced a new operating model and changes to its executive leadership team.
The ASX 200 stock notes that these changes are designed to accelerate growth.
According to the release, Lottery Corporation has revealed a new organisational structure aimed at supporting the next stage of its strategy and helping it evolve further as a digital entertainment company.
Under the new model, Lottery Corporation will create three customer-facing business units. These are Lotteries, Digital, and Keno.
It notes that each will have a distinct strategic mandate and will report to a chief operating officer structure.
Management believes this will improve focus, accountability, and decision-making across the business.
The ASX 200 stock’s CEO, Wayne Pickup, said the company is well positioned but believes the new structure will help unlock further value. He commented:
We have a strong foundation and our strategy has served the Company well, but we can unlock more value. This new structure gives us the clarity and accountability to accelerate our evolution as a digital entertainment company, concentrate on local market growth and make faster, better decisions.
Leadership changes
Several leadership changes will accompany the new operating structure.
The release highlights that Callum Mulvihill will become chief operating officer of Lotteries, responsible for growing the company’s core lotteries portfolio across its retail network and digital wholesale partnerships.
Loren Somerville will take on the role of chief operating officer of Digital, with responsibility for driving digital lottery sales, improving app and web experiences, and exploring new opportunities in adjacent lottery entertainment categories.
Antony Moore will become chief operating officer of Keno, overseeing both venue-based and online Keno operations as the company looks to expand the product’s reach.
Alongside these customer-facing units, the company will also establish three enterprise service divisions covering Financial & Corporate Services, Strategy, and People & Brand.
The company’s chief financial officer Adam Newman will remain in his role, with expanded responsibilities including legal, risk, cyber and technology services.
When will the changes take effect?
The new operating model and leadership structure are expected to take effect from 1 July 2026, subject to regulatory approvals.
And based on its share price performance this morning, investors appear to be welcoming the announcement.
The post Guess which ASX 200 stock is pushing higher on big news appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended The Lottery Corporation. The Motley Fool Australia has recommended The Lottery Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.