A leading iGaming technology company and a solutions, products, and services provider to the industry, Gaming Innovation Group (GiG) announce the change in the company’s leadership. According to GiG’s official release, Group CEO Richard Brown has agreed with the company’s Board of Directors to resign from the position on the 31st of December 2023.
Strategic Review:
The agreement follows the Board’s strategic review carried out in February with an aim to optimize the Group’s operations. As a result of the review, the Board considers the GiG‘s restructuring as the best way to proceed. According to the company, the formation of two separate corporate groups will best fit in with with the corporate strategy. Indeed, the Board intends to split GiG into the GiG Media entity and the Platform & Sportsbook operations.
Two Entities:
The Board is reportedly satisfied with the progress of the strategic review that will enable each of the two new entities to completely focus on their respective activities simultaneously adding value to the entire corporation. GiG Media will reportedly continue operations under the same senior leadership while the Board has already started searching for the best match for the Platform & Sportsbook CEO position.
Smooth Transition:
Petter Nylander, Chairman of the Board of Directors, reportedly said: “Richard has done a tremendous job with GiG over the years and the Company is in a very good position driving shareholder value going forward. We are pleased that Richard has agreed to stay until the end of the year to secure a smooth transition.”
According to a source, Brown first joined GiG Media in 2017 to be promoted to the Group’s CEO in 2019. He reportedly provided a stable leadership for the company during the pandemic and boosted the division’s operations to record growth levels. He has now agreed with the GiG Board to stay with the company until the end of the year to facilitate a seamless transition and alignment to the strategic review goals.
Richard Brown, CEO of GiG, added: “It has been a true honor and privilege to be part of Gaming Innovation Group’s development over the past 8 years and the last 4 years as CEO, leading an incredible group of people towards, as I see it, the unparalleled strategic position across the B2B value chain that the group has created. I have no doubt that the teams throughout the organization and the management groups of the respective business units have the skills and passion to continue the growth of the business towards its financial and operational targets.”