Iain Balchin has been appointed as the Chief Financial Officer of the XL Media Group. The Affiliate Marketing Service Provider Group has also appointed Sarah Clark as the Chief Transformation Officer.
Balchin is set to join from Ixaris Group, Payment Optimisation Specialists. He was serving as the Group CEO and looked after restructuring the finance of the company. He has also worked at WorldRemit, a money transfer company and worked to restructure finance division and future investment.
However, before all these, he had assumed the CFO positions for Wizink Bank and Ascot Lloyd Financial Services. He also worked in Senior Finance Management roles for companies like St James Wealth Management and Chartis Insurance – AIG Group.
Balchin joins after XL Media reported that Yehuda Dahan, the then Group CFO stepped down with immediate effect in September last year. However, no reason was shared for stepping down.
Sarah Clark also joins the XL Media Group as the Chief Transformation Officer. She joins from Loot Crate Inc. She was working as the General Manager for Europe, the Middle East, and Africa in Loot Crate. Prior to this, she has worked as Head of Global Strategy for PayPal. She was in charge of 110 markets and an annual transaction volume of $10bn.
Stuart Simms, the Chief Executive Officer of XL Media welcomed both Balchin and Sarah into their respective roles. He said that both of them bring a wealth of experience and expertise for their roles. He said that the senior leadership will be strengthened with Balchin and Sarah on board. Simms further added that this would be a journey to look forward as the company progresses to transform the core business and capitalize on various opportunities across the markets.
This announcement came after the XL media recently announced that the number of planned strategic initiatives after Google changed the search algorithm. XL Media reported that traffic on certain websites was decreased significantly due to the change in algorithm. Google updated the algorithm on January 13. The decrease in the traffic is expected to bring the revenue down for the XL Media as well.
The Affiliate Marketing Service Provider said that 107 websites have been impacted due to the change. The company further categorized the websites impacted and listed out 84 Tier-IIII and Tier – IV websites. The remaining 23 websites were identified as the premium Tier – I and Tier – II websites by the XL Media.