Richard Brown, who previously had announced his resignation from the CEO position at Gaming Innovation Group (GiG) to be effective at year’s end, stepped down early, effective September 18. Brown, who is taking the CEO position for Glitnor Group in January, will be replaced by Richard Carter.
Brown will remain in an advisory position with GiG until the end of the year.
GiG initiated a strategic review earlier this year with the intention to split the company into two separate entities, to fully optimize growth opportunities and ensure each business can benefit from the strategic and financial flexibility of their distinctive business models.
The split will form two businesses with the potential to grow faster than in the current corporate structure. Carter was appointed as CEO for platform & sportsbook in August, securing a strong and experienced leader ahead of the planned split.
Jonas Warrer will continue to lead GiG Media as CEO for this business unit. Petter Nylander, chairman of the board, will take on the role of executive chairman during the period until the proposed split under the strategic review is completed.
Brown will help support the handover to Carter and provide ongoing support to the board until the end of the year. According to the company, the move will enable both new CEOs with a full mandate to take their respective business units forward while providing adequate background support from Brown.
“We are very pleased with the progression of splitting GiG into two distinct entities to enhance future expansion and drive shareholder value,” Nylander said. “We now have two strong CEOs in Jonas Warrer for Media and Richard Carter for Platform & Sportsbook, with full operational responsibility for each business unit.
“Richard Brown has been instrumental in making this possible, and the board wants to thank Richard for his valuable contribution to GiG over the years. We are pleased that Richard will be available until year end to secure the succession.”
Brown said, “GiG is in a tremendous position strategically and operationally, and with Jonas and Richard now in place to drive the business units towards further success, it is a good time for me to move to a supportive but non-operational role until the end of the year.”
