CashBet board votes to appoint new CEO
Board of directors vote to replace co-founder Mike Reaves due to “aggressive goals that require new leadership”
Crypto platform provider CashBet is looking to appoint a new CEO to replace co-founder Mike Reaves.
Reaves, who co-founded the business in 2012, will return to the CashBet board after the board of directors voted to appoint a new CEO due to “aggressive goals that require new leadership”.
Newly-appointed company president Ed Brennan will take the CEO role in the interim, while the provider hopes to have a permanent replacement for Reaves in place by H1 2019.
A CashBet spokesperson told EGR Intel: “We recognise these things may take some time and our top priority is getting the right person into the role.
“The business will not be stopping in the meantime and we’re continuing to build out our crypto solution while leveraging the guidance of our board of directors and advisory board.”
New president Brennan is set to lead CashBet in its next period of development having played an advisory role at the provider for the last four years.
He has spent 25 years in the internet, software and financial industries having worked with companies like Merrill Lynch, Adobe and Microsoft.
CashBet told EGR that its next permanent CEO must “understand the magnitude of the opportunity presented by cryptocurrency”.
“This is not a flash-in-the-pan idea for us, but truly where we think major sector growth will come,” said the spokesperson.
“They must be excited to help break new ground to create a crypto-based egaming ecosystem of products and services, and drive adoption among operators and end consumers.
“The ideal leader will have helped mature a technology-focused start up from early stage to global operation and understand the international business landscape, especially as it relates to gambling.”