In a strategic move to streamline operations, GiG (Gaming Innovation Group) has announced that its CEO, Richard Brown, will be stepping down from his position by the end of 2023. This decision follows a thorough review conducted in February, which aimed to split the company into two distinct groups: GiG Media and Platform & Sportsbook. While GiG Media will continue under its existing executive leadership, a search for a new CEO for the Platform & Sportsbook division has been initiated. Brown, who has been with GiG for a total of eight years, will resign from his role on 31 December 2023. Petter Nylander, Chairman of the Board of Directors, expressed confidence in GiG’s future and commended Brown for his contributions to the company’s success.
Richard Brown’s Contributions and Transition Period:
Richard Brown’s departure marks the end of an era at GiG, where he has served as CEO for the past four years. With a remarkable eight years of experience at the company, Brown has held various leadership positions, including Managing Director, Chief Digital Officer, and COO. During his tenure as CEO, Brown has played a pivotal role in positioning GiG as a leader in the B2B value chain. In recognition of his achievements, Brown has agreed to stay until the end of the year to ensure a smooth transition and provide valuable guidance to his successor.
GiG’s Strategic Review and Divisional Split:
The decision to split GiG into two separate groups, GiG Media and Platform & Sportsbook, stems from a strategic review conducted in February. This move aims to enhance operational efficiency and focus on the unique strengths of each division. GiG Media, which will continue under its existing leadership, specializes in marketing and affiliation services. On the other hand, the Platform & Sportsbook division requires a new CEO to steer its growth and capitalize on market opportunities. The ongoing search for a suitable candidate underscores the company’s commitment to securing strong leadership for this critical segment.
Positive Outlook and Future Growth:
Petter Nylander, Chairman of the Board of Directors at GiG, expressed confidence in the company’s future and praised Brown’s efforts in driving shareholder value. Nylander highlighted the favorable position GiG has achieved within the B2B value chain, thanks to the unwavering dedication and skills of the organization’s teams and management groups. With a solid foundation in place, GiG is well-positioned to pursue its financial and operational targets and continue its growth trajectory.
GiG’s CEO Richard Brown will be stepping down from his role by the end of 2023, initiating a search for a new CEO for the Platform & Sportsbook division. Brown’s contributions over the past eight years, including four years as CEO, have been pivotal in establishing GiG’s strategic position in the B2B value chain. The company’s decision to split into two separate groups, GiG Media and Platform & Sportsbook, aims to optimize operations and leverage the strengths of each division. GiG is confident in its future growth prospects, thanks to the dedication and passion of its teams and management groups. The search for a new CEO demonstrates the company’s commitment to securing strong leadership for its Platform & Sportsbook division. As GiG transitions into this new phase, it remains poised for continued success and value creation for its shareholders.