Former Ontario Lottery chair Paul Godfrey named Bragg's interim CEO

Global gaming technology and content provider Bragg Gaming Group announced Monday that Paul Godfrey, Chair of the Board of Directors, has been appointed to the role of Interim CEO of Bragg Gaming, effective November 15, 2021, as Richard Carter stepped down from the CEO role.

Bragg founder and former Interim CEO Adam Arviv will take on the role of Special Advisor to the Chair and CEO. Oryx founder and Vice Chair of the Board of Directors of Bragg Matevž Mazij will also play an integral role in the organization. 

Godfrey has agreed to take on the role of CEO until a replacement is named.

Bragg said it will conduct a strategic review of the overall company, which will include the "immediate restructuring of the CEO role" and a search for a new CEO, as its track record of exceeding revenue and growth targets over the past six quarters has yet to be reflected in the company's public market performance.

Godfrey, former chair of the Ontario Lottery and Gaming Corp, has held previously roles that included publisher and CEO of Sun Media and president and CEO of the Toronto Blue Jays.  He is a business leader and Canadian politician, who recently held the role of President and CEO of Postmedia Network and continuing to act as Chair of Postmedia, a company he founded. 

In an official press release, Godfrey spoke about his new interim position and said: “While the global online gaming industry continues to grow exponentially, the North American opportunity is a game changer. Bragg’s technology and content is well-positioned to take advantage of this new market’s potential and although Bragg's operations have continued to outperform over recent quarters, the capital markets strategy has not translated into shareholder value. Developing this alignment will be our top priority and absolutely requires a strategic review."