Former chief executive Frieberger exits 888

Itai Frieberger, the former chief executive of 888, has stepped down from the online gaming operator’s board with immediate effect from today (23 January).

Frieberger announced in January of last year that he was to exit the role of chief executive, which he had held since March 2016, with 888 naming Itai Pazner as his replacement.

As part of his departure agreement, Frieberger remained as a director of 888 to support the transition of responsibilities to Pazner and to continued work on certain strategic initiatives.

Frieberger spent over 14 years at 888 and, prior to his time as chief executive, held various senior roles including eight years on its executive team as chief operating officer and also as an executive director.

“The board is grateful for Mr Frieberger’s many years of service to 888,” the operatof said in a statement.

Speaking at the time of the original announcement, Frieberger said it was not an easy decision to step down, but felt it was the right time for him to move away from the day-to-day running of 888.

“I am very proud of what we have achieved during my time at 888,” he said. “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.”

He also backed Pazner to succeed in the role, saying: “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.”

Last week, it was also announced that Aviad Kobrine, 888’s long-serving chief financial officer, is to step down from the role later this year after 15 years with the business.

888 did not state when Kobrine will leave the position, but did confirm that he will remain in the role until a successor is in place.

Earlier this month, 888 also said it is on track to achieve adjusted earnings before interest, tax, depreciation and amortisation in line with expectations for 2019, after saying was boosted by a record revenue performance in December.

Although the operator did not publish any figures, it said that its performance during the 12 months to 31 December 2019 was underpinned by ongoing success with its Orbit casino platform and further growth in sports betting.