Issuing a corporate filing, London-listed online gambling group 888 Holdings has this morning disclosed that Itai Frieberger will step down as Chief Executive Officer (CEO), transferring leadership of the company to Itai Pazner (COO).
A 14-year 888 Holdings executive, Frieberger ends his three-year tenure as 888 CEO, with governance informing that he will take-on a directorship role undertaking a leadership transition with new incumbent Pazner.
Updating investors, Brian Mattingley, Non-Executive Chairman of 888 commented: “Itai Frieberger has been instrumental in driving the transformation of 888 into one of the world’s leading online gaming companies.
The Board understands and accepts Itai Frieberger’s decision to step back from the day-to-day running of the global business and, in order to ensure a seamless transition, we are delighted that he will remain on the Board of 888 over the coming months.”
Promoted to CEO, 888 governance highlights Pazner’s working knowledge of 888 operations and his track record in delivering new products, divisions and strategies to market, proven during his tenure as Senior VP of 888 B2C division.
Itai Pazner, the new CEO of 888, commented: “I am honoured to become the new CEO of 888. This company has a brilliant team and culture across its business, which is led by a talented and vastly experienced operational management team.”
On behalf of 888 investors and corporate stakeholders, both Mattingley and Pazner praised the service and leadership of Itai Frieberger, in spearheading the foundations for 888’s growth, success and business strategy.
Closing the update, Itai Frieberger would publish the following communication to 888 investors, stakeholders and employees: –
“Being CEO of 888 and working with our team of highly skilled and committed colleagues has been a tremendous honour. We have so many great people, partners and investors around the world and I would like to thank them all for their amazing effort and support over the last eight years. In particular, I would like to thank the operational leadership team and, especially, Brian Mattingley, our Chairman, and Aviad Kobrine, our CFO. Their support and input have been invaluable throughout my time at 888.”
“This has not been an easy decision to make, however I feel that – after eight exciting and rewarding years as a senior executive in a dynamic global business – this is the right time for me to step back from the day-to-day running of 888. I would like to thank the Board for their understanding and support of my decision and I look forward to continuing to work with the Directors in my new role.”
“I am very proud of what we have achieved during my time at 888. The global online gaming industry has changed beyond recognition during this period but, despite this, the Group has continued to achieve its strategic objectives and deliver for its stakeholders. This is down to the strength of our team and our outstanding technology.”
“I believe that 888 today is one of the most diversified operators across products and regulated markets in the global online gaming industry. Itai Pazner is a fantastic operator with a tremendous passion for innovation, product development and the customer experience; I know we share the same approach, values and vision for the business. In my new role I will remain on the Board to support Itai by leveraging my relationships and supporting the progress of a number of exciting strategic initiatives that are already underway. I have no doubts that Itai Pazner is the right person to lead 888 through the next exciting chapters of the Group’s growth.”