Bragg Gaming Group has named Board of Directors Chairman Paul Godfrey interim CEO, taking over from Richard Carter who will step down effective immediately.
This changeover comes after the Board opted to embark on a strategic review of the entire company, which includes “the immediate restructuring of the CEO role.” In its statement announcing the removal of Carter, Bragg cited “continued strong growth which has yet to be reflected in the company’s public market performance” as its primary reason for the change.
Consequently, Godfrey agreed to take the reins until a permanent replacement can be found. The company reiterated its confidence in him, calling Godfrey a “renowned” business leader and Canadian politician. The new Chief Exec outlined his hopes for the company and the areas on which he intends to focus.
“While the global online gaming industry continues to grow exponentially, the North American opportunity is a game changer,” said Godfrey.
“Bragg’s technology and content is well-positioned to take advantage of this new market’s potential and although Bragg’s operations have continued to outperform over recent quarters, the capital markets strategy has not translated into shareholder value.
“Developing this alignment will be our top priority and absolutely requires a strategic review.”
Besides reshuffling the top position, two other changes are set to take place. Bragg Founder and former interim CEO Adam Arviv will assume the mantle of Special Advisor to the Chair and CEO, while Matevž Mazij, Vice Chairman of the Board and Founder of Bragg subsidiary Oryx, has also been tapped to play a key role in the organisation.