888 Holdings asks for regulator approval of Itai Frieberger as CEO

UK newspaper The Daily Telegraph has reported that 888 Holdings is seeking for regulatory approval in order to finalise the appointment of current Chief Operations Officer Itai Frieberger as its new company leader.

888 corporate governance has requested all core market authorities to review the appointment of Frieberger as new Chief Executive, a best practice process which could take months to fulfil.

Frieberger a twelve year 888 veteran, who has held multiple leadership roles at the FTSE listed online gambling operator, has been officially lined up as the favourite to succeed CEO Executive Chairman/CEO Brian Mattingley.

888 governance plans to move Mattingley solely to the position of Executive Chairman of the company. Should the appointment secure the necessary approval, Frieberger would take responsibility for the day-to-day running of the online gaming brand.

The operator had announced its governance restructure in May 2015 with its intentions to place Mattingley as Executive Chairman, following the retirement of Richard Kilsby.

However 888 governance delayed its restructure as the company was involved in a  two-way bid battle against GVC Holdings for the takeover of bwin.party Entertainment.

888 governance lost the takeover bid for the company, after not matching GVC’s £1 billion valuation of the operator and its assets.