PracticeAccounting FirmsOnline gaming company Jagex to appoint new CFO

Online gaming company Jagex to appoint new CFO

Jagex, the maker of the successful online game RuneScape, is set to bring its finance function in-house with the appointment of a chief financial officer

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’.

For more information go to jagex.com

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