Bragg Gaming Group replaces CEO with chair after 13 months
Ex-888 head Yaniv Sherman replaced by board chair Matevž Mazij as supplier plots greater return for shareholders
Bragg Gaming Group CEO Yaniv Sherman has stepped down after just over 12 months of leading the supplier.
Sherman, who took the top job in July 2022 after 14 years with 888, has been replaced by Bragg chair Matevž Mazij, effective immediately.
The switch comes following a “thorough evaluation” by the Bragg board to ensure the “optimal alignment of the best interests of the company and its stakeholders”.
Bragg confirmed Sherman had stepped down from his post to be replaced by Mazij.
The move comes just weeks after the firm confirmed record Q2 revenue of $27.2m, with adjusted EBITDA jumping 51% to $5.2m.
Mazij is Bragg’s largest shareholder and the founder of Oryx Gaming, a Bragg subsidiary that was acquired in 2018.
Mazij remained CEO of Oryx Gaming until January 2021, when he stepped up to become a Bragg board member.
In November 2021, Mazij was named vice chair of the board before being appointed chair in June 2023.
Touching on his new role, Mazij said: “Following several years of serving on the board, I am excited to return to an operational role to lead the company towards continued top line and cash flow growth.
“I look forward to working with senior management and all of our team members to bring fresh perspectives that can amplify our ability to continue our successful execution of the growth strategies.”
Holly Gagnon, lead independent director of the Bragg board, added: “On behalf of the board of directors and the entire Bragg team, I would like to thank Yaniv for his leadership, commitment and contributions to the company.
“The board remains focused on supporting the company’s senior management team as they continue to execute on initiatives that drive profitable growth and the creation of new, sustainable shareholder value.”