Light & Wonder Inc., a leading gaming equipment and online content provider, has announced that James Sottile, its Executive Vice President, Chief Legal Officer (CLO), and Corporate Secretary, will retire from the company at the end of 2025. His last day of service will be December 31, 2025.

The company has confirmed that Susan Dawson, currently serving as Senior Vice President and Deputy General Counsel, will succeed Sottile as CLO and Corporate Secretary following his retirement. Dawson joined Light & Wonder in 2012 and has held the position of Senior Vice President and Deputy General Counsel since 2018. Currently based in the United Kingdom, she will relocate to Las Vegas, Nevada, in the United States as part of her new role.

Transition Plan and Consulting Role

Sottile formally notified Light & Wonder of his decision to retire on June 16, 2025. To ensure a smooth transition of his duties and responsibilities, he has agreed to provide consulting services to the company throughout the full year 2026. During this consulting period, Light & Wonder will pay him a monthly fee of US$11,959, which represents 20 percent of his base salary for fiscal year 2025.

On June 20, 2025, Light & Wonder signed an amendment to Sottile’s employment agreement, originally dated August 2, 2021. This amendment extends his employment through the end of 2025, making him eligible for his annual bonus for that year. It also ensures that his equity awards will follow the company’s standard retirement equity vesting policy for all equity grant recipients. On the same date, the company formally entered into a consulting agreement confirming his role as a consultant throughout 2026. These terms were confirmed in an official Nasdaq filing by Light & Wonder, which also noted that Dawson’s appointment as CLO and Corporate Secretary will officially take effect upon Sottile’s retirement.

Ambitious Growth Target and Financial Performance

The announcement of this leadership transition comes as Light & Wonder pursues ambitious financial targets. The company recently announced its goal of achieving annual consolidated adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) of $2.0 billion by 2028. This represents a substantial 42.9 percent increase from the targeted adjusted EBITDA of $1.4 billion in 2025.

Light & Wonder has demonstrated a strong financial trajectory in recent years. In 2024, the company reported revenue of $3.19 billion, up from $2.90 billion in 2023. Net income more than doubled in 2024, reaching $336 million. Consolidated adjusted EBITDA for 2024 stood at $1.24 billion. The first quarter of 2025 also saw positive results, with consolidated revenue up 2% year-over-year to $774 million, and consolidated adjusted EBITDA increasing 11% to $311 million. These figures underpin the strategic moves and leadership transitions within the company as it aims for continued growth and profitability in the coming years.