Gaming Innovation Group (GiG) has announced a significant change in its leadership by appointing Andreas Söneby to the Platform division’s Board of Directors, effective immediately. This strategic move comes at a crucial time for GiG as the company prepares for a major restructuring, including the planned spinoff of its Platform & Sportsbook division.
Andreas Söneby’s Appointment: A Strategic Move
Andreas Söneby brings a wealth of experience to GiG, having held senior positions at notable companies within the gaming and technology sectors. His previous roles include Chief Information Officer (CIO) at Kambi, where he was instrumental in managing the company’s technology strategy and overseeing substantial growth. Söneby also served as Chief Technology Officer (CTO) and IT Director at Unibet Group, playing a key role in the establishment of Kambi as a separate entity.
Söneby’s extensive background also includes executive roles at White Hat Gaming and Instabox, and he is currently a Venture Partner at Industrifonden. His diverse experience positions him well to contribute to GiG’s strategic direction and operational efficiency.
Replacing Tomasz Juroszek: New Leadership Dynamics
Söneby replaces Tomasz Juroszek on the GiG Platform Board. The Board includes notable members such as Petter Nylander, Hessi Mocca, Mikael Riese Harstad, and Nicolas Adlercreutz. This new composition of the board reflects GiG’s ongoing efforts to strengthen its leadership team as it navigates significant changes.
GiG’s Current Structure and Strategic Focus
The GiG Platform Board, where Söneby will be serving, focuses on the Platform & Sportsbook vertical. Currently, this board is operating as a temporary committee under the broader GiG Board. This temporary structure is part of GiG’s broader strategy as the company prepares for the spinoff of the Platform & Sportsbook division, which is anticipated to take place on October 1, 2024.
Recent Developments at GiG
In addition to the leadership change, GiG has recently completed its acquisition of Titan, a supplier of SEO and content services, for €3.2 million ($3.5 million). This acquisition is expected to enhance the operational capabilities of Gentoo Media, formerly known as GiG Media. The acquisition aligns with GiG’s strategy to bolster its media division, which has reported a 39% year-on-year increase in revenue for the second quarter of 2024, driven by organic growth.
Conversely, the Platform & Sportsbook segment has faced challenges, with a decline in revenues and adjusted EBITDA during the same period. This decline underscores the need for strategic adjustments and leadership changes, making Söneby’s appointment particularly timely.
The Impact of Söneby’s Appointment
Söneby’s appointment is seen as a strategic move to address the challenges facing the Platform & Sportsbook division. His extensive experience in technology and executive leadership is expected to bring a fresh perspective and drive improvements in the division’s performance. As GiG continues to expand its operations and prepare for the upcoming business restructuring, Söneby’s role will be crucial in steering the company through this transitional period.
The appointment of Andreas Söneby to the GiG Platform Board marks a significant development for the company as it prepares for a major restructuring. With his extensive experience and leadership capabilities, Söneby is well-positioned to contribute to GiG’s strategic objectives and help navigate the challenges ahead. As the company moves forward with its planned spinoff and integrates recent acquisitions, the impact of Söneby’s appointment will be closely watched by stakeholders and industry observers alike.