In a press release issued on Thursday, 888 Holdings PLC announced that Itai Freiberger has resigned as the company’s CEO, but will remain with the company as its director for a period not to exceed 12 months. In addition to the resignation, the company announced that Itai Pazner will move from his position as chief operations officer (COO) to become the new CEO at 888 Holdings.
Freiberger had been with the London-based online gambling operator for 14 years, serving as an executive in different positions during his time. He most recently served a three-year term as the company’s CEO.
In a statement informing investors of the move, Non-Executive Chairman Brian Mattingly told investors, “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.”
Freiberger issued his own statement. In it, he thanked the company for its commitment to excellence and for the opportunity it provided to him.
“Being CEO of 888 and working with our team of highly skilled and committed colleagues has been a tremendous honor. 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.”
Pazner moves over from the position of COO. He has been credited by the company for his work in delivering new products and helping build marketing strategies during his time as the senior vice-president.
In a statement provided by Pazner, he thanked the company for giving him this opportunity. “I am honored 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.”
In his statement, Freiberger acknowledged that his successor is a great choice as the new CEO. “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.”