Board replaces GiG CEO with immediate effect

Gaming Innovation Group Inc’s (GiG) Board of Directors has decided to replace Chief Executive Officer Robin Eirik Reed with immediate effect as of 5 September, today, according to a press statement sent to Business Malta. GiG’s Chief Operating Officer Richard Brown will be the Acting CEO until Mr Reed’s successor is named. The recruitment process for a permanent CEO is starting immediately.

“Robin has played a crucial part in building a unique one-stop global technology provider and we all owe him our sincere gratitude for this,” says Petter Nylander, Chairman of the Board of GiG. Mr Nylander explains the unexpected board decision by saying that new challenges require new leadership at the group.

“The company now enters into the next phase of its development with different challenges and opportunities and the board has reached the conclusion that GiG therefore also needs a different leadership. We have a skilled management team in place, I and the Board have full confidence in the Chief Operating Officer, Richard Brown who will be Acting CEO of GiG from today,” says Mr Nylander.

Furthermore, Board Chairman Nylander is increasing his engagement with immediate effect to take a more active role in GiG in order to support both the succession process and the management team, strategically as well as operationally, the press statement says.

“The strategy of GiG remains unchanged; to be the global operator and partner for strong brands in iGaming, with a sweetspot in taking an offline casino brand to a strong online offering, as we have with SkyCity and Hard Rock,” Mr Nylander continues.

“We are focusing on securing potential contracts within the B2B Platform services and on servicing our many customers with fully managed and component solutions. We will continue the development of the Media services and the sportsbook, not least to leverage GiG’s opportunities in the US. We will also continue driving the B2C Gaming operators with a focus on growth in new markets,” the board chairman concludes.

EDITORIAL NOTE: Business Malta has reached out to Mr Reed for a comment, to see his point of view. We have also reached out to Mr Nylander to see why Mr Reed is leaving so abruptly with no transitionary period. The present story will be updated as soon as we receive answers from any of the mentioned parties.