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11 Apr 2011 07:00
9 April 2011
888 Holdings Public Limited Company
('888' or 'the Company')
Directorate Change
888, one of the world's most popular online gaming entertainment and solutions providers, announces that Chief Executive Officer, Gigi Levy, is stepping down from his current role to pursue other interests.
He will commit up to 50% of his time for the next 6 months to assist in the transition to a new CEO. Gigi will remain on the Board of 888 during that period and thereafter.
The Board has asked its Nominations Committee to lead the search for a new CEO and an executive search firm will aid the process. Pending this appointment, the Board has asked Senior Independent Director, Brian Mattingley, to work closely with management on all aspects of the business.
The Board confirms that current trading remains very strong.
Richard Kilsby, Chairman of 888, said:
"After a difficult first half of 2010, the Company has experienced 3 consecutive quarters of growth. Following very strong trading in Q1 2011, which has continued into Q2, Gigi has decided to step down, leaving the company well positioned for the future. The Board would like to thank Gigi for his contribution during his time as CEO. Since the UIGEA ruling changed the industry, Gigi has been central to positioning 888 as one of the world's most popular and leading online gaming companies."
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