Online gaming company Jagex to appoint new CFO

RuneScape, Jagex

Jagex’s successul game, RuneScape

The company, which made pre-tax profits in 2006 of £10.2m, is currently on
the look out for a CFO with experience of creating a finance department with
senior finance experience.

Jagex currently outsources all aspects of finance. Newly appointed chief
executive Geoff Iddison intends to have a finance function in place within the
next three months.

The subscription online sword-and-sorcery game had more than 10 million
players last month and is largely owned by the original designer Andrew Gower.
Venture capital firm Insight Venture Partners also owns a 35% stake.

Iddison, who was previously at eBay’s PayPal, says it is high time the
finance function came in house, adding that the company is on a growth path.

Iddison, who has a three-year plan for the Cambridge-based company, said that
it‘doesn’t need to raise any more money; we have enough for organic growth’.

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