Parimatch reshuffles executive team as CEO Sergey Portnov becomes chairman

Parimatch has created a new supervisory board in a move that will see Sergey Portnov withdraw from the CEO position to become chairman of the board. Maksym Liashko – a partner in Parimatch for more than five years – has been promoted to the role of co-CEO alongside former deputy CEO Roman Syrotian. Liashko will be responsible for the finance, legal, communication and admin departments while Syrotian will manage IT, product and marketing. Katerina Belorusskaya, a major stakeholder who has been with the company since 2011, will also be appointed to the board, while Marek Šmrha will serve as a non-executive consultant. A search is underway for an additional non-executive role on the board which is currently vacant. A company statement said Parimatch signed off on the overhaul to help the company tackle the unique challenges and to ensure that the best people are performing the most suitable roles. The new supervisory board will decide whether Parimatch should go public via an IPO.

Portnov said: “Updates in the company’s structure and creating a board is an indicator of the company’s maturity and readiness. “Now is the best time for such changes. I am sure that this will strengthen the brand’s strategy and will allow the large ship that is Parimatch to move along the route rapidly,” he added. Parimatch predominantly focuses on the CIS region and is headquartered in Cyprus. The business operates in more than 10 countries via local licences or under a franchise model. Parimatch finished 50^th in EGR’s Power 50 rankings for 2020.