DraftKings Names New Compliance Chief

DraftKings Names New Compliance Chief

DraftKings Inc. named a new compliance chief as the company shuffles executive oversight of enterprise risk, compliance and regulatory affairs. The B

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DraftKings Inc. named a new compliance chief as the company shuffles executive oversight of enterprise risk, compliance and regulatory affairs.

The Boston-based sports-betting operator said Tuesday that Jennifer Aguiar has been named chief compliance officer, reporting to the company’s chief executive and chairman, Jason Robins. Ms. Aguiar was previously the company’s vice president of compliance and risk, reporting to former Chief Compliance Officer Tim Dent.

Mr. Dent will become senior vice president of regulatory operations, DraftKings said in a statement. He will continue to manage the company’s relationships with regulatory authorities before transitioning to a consultant role later this year, DraftKings said.

A DraftKings spokesperson didn’t immediately respond to a request for additional comment.

The changes come as more states look to legalize online gambling. DraftKings went public in April after a merger with special-purpose acquisition company Diamond Eagle Acquisition Corp. DraftKings, which was once focused on letting users compete to pick daily fantasy-sports lineups, has expanded its sports-betting products since the Supreme Court ruled in 2018 that the federal government couldn’t stop states from legalizing the pursuit.

Ms. Aguiar will oversee corporate compliance and enterprise risk management, DraftKings said. That includes compliance with U.S. and international licensing requirements related to daily fantasy sports, sports betting and online gaming, the company said.

Ms. Aguiar joined DraftKings in 2016 as head of compliance and risk. She developed the company’s internal compliance program and implemented an education and certification program for compliance and customer-facing employees aimed at strengthening risk management, the company said.

“Jennifer has been an instrumental asset to our organization, successfully navigating the company through the emergence of daily fantasy sports and the state-by-state licensing and regulatory process,” Mr. Robins said in a statement. “The compliance framework developed by Jennifer has been a critical element in positioning DraftKings to enter new states quickly following the legalization of sports betting and iGaming. She has created a culture of compliance at DraftKings and will continue to play a pivotal role in the company’s growth.”

Ms. Aguiar previously held compliance and risk management positions at financial institutions including Citizens Financial Group Inc. and Capital One Financial Corp.

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Write to Jack Hagel at [email protected]

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This post first appeared on wsj.com

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