Itai Pazner elevated to chief executive position at 888 Holdings

The FTSE 250 company said that came after Itai Frieberger stood down as CEO, after more than 14 years in the business, including nearly eight years as part of 888's executive leadership team.

It said Frieberger would remain a director of the group for up to 12 months during his notice period, to help enable a “seamless transition” of responsibilities to his successor and support the progress of a number of 888’s strategic initiatives that are already underway.

The board said Itai Pazner had “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, Pazner spent more than six years as senior vice-president of the group's business-to-consumer (B2C) division, where he oversaw the development of 888's brands, as well as having oversight of its marketing, customer support functions, and operations.

The directors said Frieberger had been an “integral part” of the group's management team throughout a “transformational period” for 888.

Since Frieberger's appointment as COO during 2011, the group had achieved “significant progress” against its strategy to diversify the business and grow across regulated markets.

“Itai Frieberger has been instrumental in driving the transformation of 888 into one of the world's leading online gaming companies,” said 888 Holdings’ non-executive chairman Brian Mattingley.

“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.”

Mattingley said Pazner was a “highly experienced and dynamic” operator who had developed a unique understanding of 888 over the past 17 years.

“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.”

Mattingley explained that Pazner had worked closely with Frieberger for a number of years, especially in his most recent role as COO, which would enable an effective 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.”