Richard Brown steps down as GiG CEO ahead of company split

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Gaming Innovation Group has announced that Richard Brown has left his position as CEO of the company and has moved into a board advisory role until the end of the year.

Brown’s departure as CEO was announced earlier this year and comes as GiG splits itself into two separate companies – GiG Platform & Sportsbook and GiG Media – as it seeks to “fully optimise growth opportunities and ensure each business can benefit from the strategic and financial flexibility of their distinctive business models”.

The CEOs of the respective companies have already been named as well. Richard Carter was appointed as CEO of GiG Platform & Sportsbook in August, while Jonas Warrer will continue to lead GiG Media in the role.

Brown will help support Carter during the handover and offer ongoing support to the board of directors until 31 December 2023. 

“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,” stated Brown.

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. 

Nylander commented: “We are very pleased with the progression of splitting GiG into two distinct entities to enhance future expansion and drive shareholder value. 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.”