Frankfurt Xetra-listed betting operator mybet Holdings SE (mybet) has confirmed that Chief Executive Officer Zeno Ossko has stepped down from leadership of the company.
Ossko will officially depart mybet on 31 August, with CFO Markus Peuler taking on combined leadership responsibilities on an interim basis.
Ossko’s decision to resign as CEO, ends a ten-year career with the German sports betting operator in which he held numerous executive positions. Ossko had been appointed CEO of mybet in August 2015 replacing Sven Ivo Brinck.
As mybet leader, Ossko had been charged with leading the company’s new operational restructure focusing on the delivery and integration of its new in-house developed gaming platform.
The platform project earmarked to turnaround corporate performance, has faced numerous delays missing its latest target launch date aimed for the start of Euro 2016. Furthermore, mybet performance and earnings have continued to be hampered by declining player activity in its product verticals.
As leader of mybet, Ossko has suffered a troubled tenure issuing consecutive profit warnings to investors and reporting €8 million losses for full-year 2015 performance.
Confirming the departure of Ossko, Dr. Volker Heeg, Supervisory Board Chairman of mybet stated :
‘The Supervisory Board has always very much appreciated the work of Mr Osskó as Head of Operations and as member of the Executive Board of the company due to his professional expertise and leadership abilities. Thus, we do regret his decision. But with Markus Peuler as sole Executive Officer and a strong second management level mybet is well prepared for the tasks to come. The Supervisory Board is going to decide about the future structure of the Executive Board functions also depending on the start of the new IT platform.’