Colossus Bets announces Paula Farcas as new CEO, other C-level promotions amid US expansion plans

Provider of sports jackpots and technology Colossus Bets announced the upcoming departure of veteran C-level executives David O’Reilly and Eva Karagianni-Goel. Paula Cara Farcas, the company’s current CTO, will be succeeding O’Reilly as CEO, whereas Alberto Zuin, currently CIO and CISO, will be named CTO. Meanwhile, Laurence Jones, one of Colossus’ original employees and current Head of Product, will be promoted to CPO.

The changes will be effective from September 2022 and come at a point when the company is gearing up to launch its core product in the US market for the first time. "The new leadership team reflects Colossus’ expansion as a provider of pools, tote, and cash out technology," the company stated in a press release.

Colossus' Founder Bernard Marantelli commented: "Paula is a well-respected leader who, as CTO, built and controlled our entire technology stack. She combines a deep understanding of our world-leading technology with strong commercial acumen, which makes her the natural choice to lead Colossus into the future."

"Looking at the entire new C-level team, we are really fortunate to have mentored such strong talent internally, allowing us to confidently pass the baton to this next generation of leaders at an exciting time for the company. We could not have done better by looking externally on any level," he added.

Bernard Marantelli

Farcas said: "I am delighted to assume the mantle to lead Colossus into the next stage. I feel really fortunate to have an excellent team in Alberto, Laurence, and other long-term employees, who share both an intimate knowledge of our past and an unrelenting passion for our future."

"I would like to thank Eva and David for their multiple contributions over the past years and for leading the company to the stage where it is today, serving tens of partners and thousands of users globally. We have built a solid foundation to continue to scale and capture the value of our significant IP and technology assets, including now in the US market," Marantelli concluded.