GiG Interim CEO Richard Brown claims position permanently

Richard Brown has been named Chief Executive Officer of Gaming Innovation Group Inc (GiG) as of 6 November, claiming the position permanently after stepping up as the Acting CEO upon the abrupt replacement of former CEO Robin Eirik Reed in September.

Mr Brown joined GiG in February 2017 as Managing Director for GiG’s media business, after nearly two years, he progressed to Chief Digital Officer and subsequently took the position of Chief Operating Officer, according to a press statement sent to Business Malta.

He took the Acting CEO position on 5 September when the board decided to change the leadership of the company, replacing GiG’s former CEO and Cofounder Robin Eirik Reed.

Upon the announcement, Board Chairman Petter Nylander praised the outgoing CEO for having “played a crucial part in building a unique one-stop global technology provider and we all owe him our sincere gratitude for this.”

GiG says Mr Brown’s appointment comes after a “short, rigorous, evaluation and selection process” and is based on “a strong industry and commercial background”, the press statement says. GiG adds that during his days as Interim CEO, Mr Brown “has shown effective stewardship and gained the full backing and a strong mandate from the board to take the position as the CEO of GiG.”

Prior to joining GiG, Mr Brown worked in various senior and directorial roles in companies such as Highlight Media Group, Web Guide Partner and THG Sports delivering exceptional results in line with strategic goals.

“I am delighted to accept the position of CEO for Gaming Innovation Group, having worked here for the past four years I see massive potential for the company,” said Richard Brown.

“While industry headwinds may have dampened progress in 2019, I am extremely excited about the future potential of the group and this new phase of the company’s life cycle. My focus will be on delivery, execution and optimisation, putting us on a path for great focus and renewed growth,” he added.

“I would like to pass a special thanks to all the people within GiG past and present, who have been supportive of me and I am immensely proud of the work they are doing and the effort all the teams apply to their work. With their help, I am convinced that we will be successful in achieving our goal in providing value to our shareholders,” the new CEO concluded.

“The Board is delighted to appoint Richard Brown as the CEO of GiG. He is the best person to drive the necessary changes and provide leadership as the company now enters the next phase of its development,” said Petter Nylander, GiG’s Chairman of the Board.

“The gambling industry is experiencing a challenging period of structural change. However, it is still backed by fundamental strong underlying growth and we need to plan and position ourselves to be most relevant to our partners and end-users in order to benefit and accelerate our sustainable growth,” Mr Nylander added.

“Richard has a strong track record of operational excellence and will be focusing on making the company more efficient by creating a clear and directional strategy, reducing costs and driving execution. The strategic intent of GiG remains unchanged; to be the global operator and partner for strong brands in iGaming, with a sweet spot in taking an offline casino brand to a strong online offering. I am convinced that Richard will be able to create significant shareholder value by releasing the company’s full potential,” the board chairman concluded.

EDITORIAL NOTE: When Mr Reed’s replacement came to light, Business Malta approached both Mr Reed and Mr Nylander to understand the sudden change in leadership, but this newsroom has not received an answer up until the publication of this article.