Matchbook CEO steps down
Mark Brosnan to continue as director after ending 16-year tenure with Irish exchange operator
Matchbook chief executive Mark Brosnan will leave his role to end a 16-year period as CEO of the Irish betting exchange operator.
The reason for Brosnan’s departure has not been revealed, although it is understood that Brosnan will continue as a director of Matchbook holding company Newfoundland Limited and B2B technology supplier Xanadu Consultancy Limited.
In February, Matchbook’s UK licence was temporarily suspended by the Gambling Commission (UKGC) pending a comprehensive review of its UK operating practices.
As a consequence, Matchbook ceased all betting and online casino operations with immediate effect. This licence has yet to be reinstated by the UKGC, with the firm currently undergoing an independent audit.
Matchbook owner Triplebet was then hit with a £740,000 UKGC fine in April following failings in the operator’s social responsibility and anti-money laundering practices over a two-year period, which led to the suspension.
“Mark’s decision comes at the natural conclusion of a number of long-term projects, including the development of a new sportsbook product and the submission of the independent audit to the UK Gambling Commission; which concludes the work required by Triplebet Limited to have its licence suspension lifted,” Xanadu Consultancy said in a statement.
Matchbook CEO Mark Brosnan
Matchbook chief financial officer (CFO) Farzad Peyman will take on the role of interim CEO until a permanent successor is found.
Peyman paid tribute to the role Brosnan played in building up the Matchbook brand, adding the firm was “enormously indebted” to him.
“Mark is a fantastic business leader who operates with tremendous authenticity and warmth,” said Peyman.
“He has navigated the business through an amazing growth journey and leaves behind a market leading technology stack which is built for scale and business primed for growth,” he added.