Monday November 23,2015 : FANDUEL FORMS ADVISORY BOARD
High powered group to advise on governance and regulatory issues.
Beleaguered daily fantasy sport company FanDuel has announced the formation of a new advisory board to develop policy recommendations.
The board, chaired by Michael Garcia former United States Attorney for the Southern District of New York, will provide independent advice on evolving governance and regulatory issues, the company said.
Other members include:
– Tom Ridge, former Governor of Pennsylvania and Secretary of the United States Department of Homeland Security, Chairman of Ridge Global;
– Terdema Ussery, former president and CEO of the Dallas Mavericks; and
– Tim Brosnan, former Major League Baseball Executive Vice President of Business.
"The advisory board is an important step to best position FanDuel for continued growth, demonstrate our commitment to providing users a great experience and guide our work with regulators and lawmakers moving forward,” Nigel Eccles, chief executive officer of FanDuel said.
In parallel, former federal judge and United States Attorney General Michael Mukasey will lead an internal review of FanDuel’s policies and protocols to ensure the integrity of its competitions along with developing a set of recommendations where controls can be strengthened.
The move comes in the wake of daily fantasy sports’ (DFS) companies FanDuel and DraftKings’ being issued a cease-and-desist order from New York Attorney General Eric Schneiderman who believes DFS is illegal gambling, an opinion that will be tested in court , and a slew of class-action suits filed against both firms.