Sportradar announced a series of structural changes on Wednesday, in conjunction with the departure of two prominent C-suite executives.

Sportradar Chief Financial Officer Gerard Griffin informed the company that he will be leaving due to personal reasons. Griffin will remain in the position until May 31st or the appointment of a permanent successor, if earlier, according to the company. Separately, Sportradar announced that Ulrich Harmuth, chief strategy officer, will be departing to pursue other endeavors.

Headquartered in Switzerland, Sportradar previously announced major structural changes last November aimed at generating a higher return on investment from various products.

In addition, Sportradar reaffirmed its fiscal year 2023 revenue guidance in the range of €870 million to €880 million ($947 million to $958 million). The projections represent year-over-year growth year between 19% and 21%. Sportradar also projects adjusted EBITDA in the range of €162 million to €167 million, providing a guidance that represents year-over-year growth between 29% and 33%.

As part of the changes, Sportradar’s new organizational structure will consist of six business functions. The company’s commercial division led by Chief Commercial Officer Eduard Blonk will handle sales, client services, and sports partnerships, among other responsibilities.

Other new divisions at Sportradar (unveiled on Wednesday): 

“I am excited to announce this new global organization and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution, and better positions Sportradar for future growth,” said Carsten Koerl, CEO of Sportradar, in a statement. “By centralizing our key business functions, we will foster greater collaboration and faster decision-making, enabling us to drive further operating efficiencies and increased innovation across our business.”

Sportradar has initiated a search for its next CFO, whom it expects to announce prior to Griffin’s departure. Sportradar and archrival Genius Sports maintain a practical duopoly on global sports betting data among the largest professional sports leagues.

Sportradar plunged more than 10% on Wednesday morning to a session-low of $9.99 per share. As of 2:50 p.m. ET, Sportradar rebounded somewhat, while clearing a per-share price of $10.50. Sportradar is down approximately 31% since hitting a 12-month high last July around $15.40 a share.