Richard Brown bows out of CEO position at GiG

Richard Brown, the outgoing Chief Executive Officer at Gaming Innovation Group (GiG) has stepped down from his post with immediate effect today. This leave comes ahead of the initially planned transfer of power, with Richard Carter maintaining control over the Platform & Sportsbook division.

In the meantime, Brown will retain an advisory role on the company’s Board until December31, 2023. The transition has been long coming as Brown and GiG confirmed the change in the company’s pecking order as early as May this year, but Brown was not expected to leave until later this year.

Brown will be stepping into a new position as CEO at Glitnor Group, with his mandate starting in January 2024. He spent almost 8 years with the company and originally joined in February 2016, as part of GiG Media, where he served as Managing Director. Over the years, he gradually shot up through the ranks first as Chief Digital Officer in 2017, and then progressing to Chief Operating Officer in 2018, and then finally stepping in at the helm of GiG in November 2019.

Brown leaves the company in good hands. Carter was appointed as CEO of Platform & Sportsbook in August and is also a trusted and established industry leader whom the company is comfortable entrusting with the future of this particular business. There will be other shifts in the company as well, but first Jonas Warrer has been confirmed as GiG Media CEO, and there will be no changes here.

Petter Nylander, who is Chairman of the Board at GiG, will take the role of Executive Chairman. This comes at a time when the company is running a strategic review which will eventually see GiG split into two separate entities that are committed to pursuing further growth and achieving better financial flexibility.

The ultimate goal is to create industry-leading businesses that can maintain a strong growth trajectory. Meanwhile, commenting on the current shifts in the company, Nylander had this to say:

"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."

In the meantime, Brown’s efforts as part of GiG have been hailed as valuable contributions that have made it possible to get the company where it is today. Brown himself said that with Carter and Warrer tending over the company, it was time for him to move on.

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