Gaming Innovation Group (GiG) has officially announced the expected departure of Richard Brown from his position as CEO, effective from 18 September 2023. Mr. Brown will transition into a Board advisory member, lending his expertise and support until 31 December 2023. This transition marks an expected pivotal moment in GiG’s strategic transformation.
GiG’s path to enhanced growth
GiG, a major player in the gaming industry, initiated a comprehensive strategic review this year. The primary objective of this study was to split GiG into two separate entities. The move aims to maximize growth opportunities and provide each business with the strategic and financial autonomy required for its unique operational model. The result will be the creation of two industry-leading enterprises poised for accelerated growth.
Richard Carter, assuming the role of CEO for Platform & Sportsbook in August, has been entrusted with leading this business unit during this critical period of transition. Simultaneously, Jonas Warrer will continue his leadership as CEO of GiG Media. Petter Nylander, Chairman of the Board, will step into the role of Executive Chairman during the interim phase, overseeing the transition and strategic review process.
Richard Brown’s non-operational support
Brown’s departure from the CEO position signifies a strategic shift, allowing him to assume a supportive, non-operational role. His primary responsibility during this phase will be to facilitate the seamless handover to Richard Carter and provide continued support to the board of directors until the year’s end. This transitional arrangement ensures that both new CEOs can lead their respective business units effectively, with the assurance of background support from Brown.
Commenting on these developments, Petter Nylander expressed the board’s satisfaction with the progress made in splitting GiG into two distinct entities to gear the way forward for future expansion and enhance shareholder value. He acknowledged Richard Brown’s instrumental role in this transformation and thanked him for his invaluable contributions to GiG over the years. Brown also shared his thoughts, highlighting GiG’s strong strategic and operational position and his intention to support the company in a non-operational capacity until the close of the year.
The transition of leadership at GiG signifies a strategic repositioning aimed at propelling the company into a new era of growth and opportunity. The expertise and dedication of the departing CEO, Richard Brown, and the incoming leaders, Richard Carter and Jonas Warrer, promise an exciting future for GiG as it continues to evolve in the dynamic gaming industry.