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888 announces change of Chief Executive Officer

24 Jan 2019

(PRESS RELEASE) -- 888, one of the world’s leading online gaming entertainment and solutions providers, is pleased to announce that Itai Pazner, previously the Group’s Chief Operating Officer (“COO”), has today been appointed as 888’s new Chief Executive Officer (“CEO”). Itai Pazner has in-depth and widespread understanding of both 888 and the online gaming industry having spent the past 17 years with the Group. Prior to becoming COO in 2017, Itai Pazner spent more than six years as Senior Vice President (‘SVP’) of the Group’s B2C Division where he oversaw the significant development of 888’s market-leading brands as well as having oversight of the Group’s marketing, customer support functions, and operations.

After more than 14 years in the business, including nearly eight years as part of 888’s executive leadership team, Itai Frieberger is standing down as the Group’s CEO. Itai Frieberger will remain a Director of the Group for up to 12 months during his notice period. This will help to enable a seamless transition of responsibilities to his successor and support the progress of a number of the Group’s strategic initiatives that are already underway.

Itai Frieberger has been an integral part of the Group’s management team throughout a transformational period for 888. Since Itai Frieberger’s appointment as COO during 2011, the Group has achieved significant progress against its strategy to diversify the business and grow across regulated markets.

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 a 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.”

“In Itai Pazner we have the ideal successor as CEO. Itai is a highly experienced and dynamic operator who has developed a unique understanding of 888 over the past 17 years within the company. He has a fantastic track record within the Group having helped to drive 888’s growth in a number of new regulated markets and overseen significant product and marketing innovation during recent years. Itai Pazner has worked closely with Itai Frieberger for a number of years, especially in his most recent role as COO, which will enable an effective and seamless transition.”

“On a personal note, Itai Frieberger and I have worked closely together for many years and he has been a fantastic colleague. He has made a truly outstanding contribution to 888 and, on behalf of everyone at the company, I would like to thank Itai for his truly exceptional achievements and dedication.”

Itai Frieberger, outgoing CEO of 888, commented: “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.”

Itai Pazner, new CEO of 888, commented: “I am honoured to become the new CEO of 888. 888 has a brilliant team and culture across the business, which is led by a talented and vastly experienced operational management team.”

“Itai Frieberger is hugely admired both within 888 and throughout the online gaming industry and he has been instrumental in the Group’s significant development over many years. I am very excited at the prospect of building on his work and continuing to deliver the Group’s clear growth strategy by further enhancing our technology and growing 888’s presence across products and global regulated markets.”
 
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