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(Sharecast News) - Video games label Team17 announced a change in leadership on Tuesday, with Chris Bell, who had been with the company since its initial public offering in 2018 as its non-executive chair, to step down from his position by the end of the year.
The AIM-traded firm said his decision was based on a desire to devote more time to his other business ventures.
In light of that development, Team17 also revealed the appointment of Frank Sagnier as its non-executive chair designate.
Sagnier was scheduled to formally integrate into the company on 6 September, and for a seamless transition, Bell would remain in his position until 31 December, closely working with Sagnier to ensure an orderly handover.
After that, from 1 January, Sagnier would officially adopt the responsibilities of the chair role.
Team17 said Frank Sagnier was no stranger to the gaming industry, boasting an impressive resume spanning more than 25 years with eminent firms including Codemasters, Electronic Arts, Acclaim Entertainment, Double Fusion, and Funcom.
He started professional life in advertising at Grey, before transitioning into marketing roles at Warner Bros Entertainment and Acclaim Entertainment.
In 1999, he joined gaming giant Electronic Arts, where he played pivotal roles in marketing and third-party game development and publishing across the European region.
Furthermore, in 2014 he became chief executive officer of Codemasters, leading a transformative phase culminating in its establishment as a premier developer and publisher of the iconic F1 racing games.
He also facilitated Codemasters' IPO in 2018, and later in 2021, Electronic Arts acquired the company in a massive $1.2bn deal.
In his new role at Team17, Sagnier would preside over the nomination committee and also serve on the audit and remuneration committees.
"I would like to personally thank Chris for his exceptional support and guidance to myself and the board throughout his time as chair, during which he presided over a period of significant financial and operational growth," said chief executive officer Debbie Bestwick.
"I extend a very warm welcome to Frank; he is one of the most respected gaming executives globally in video games, his knowledge is second to none, but equally his leadership and experience in the gaming world will bring huge value to the board as we prepare for the next stage.
"Frank also brings strong merger and acquisition experience that the group will benefit from."
At 1112 BST, shares in Team17 Group were down 1.19% at 331p.
Reporting by Josh White for Sharecast.com.