SPORTS BETTING

Cyprus – Parimatch forms Supervisory Board

By Lewis - 9 April 2021

Parimatch has created a new advisory team, the ‘Supervisory Board’, tasked with helping the operator navigate through the competitive world of online gaming and sports betting.

The Supervisory Board will also rule on decisions such as the company’s potential Initial Public Offering and the means through which it will continue its expansion, but it will exist as a separate entity and will not be directly involved with the company’s day-to-day operations.

The advisory team includes Katerina Belorusskaya, a major stakeholder who has been with the company since 2011, and Marek Šmrha, a non-executive consultant of the Board.

Sergey Portnov will relinquish his role of CEO and serve as Chairman of the Board. Sergey believes that these changes will provide stability and direction needed to grow.

“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.”

Maksym Liashko and Roman Syrotian, in addition to receiving roles on the Supervisory Board, will become co-CEOs and divide operating activities between them.

These activities will be related to finance, legal, communication and admin (for Liashko) and IT, product, and marketing (for Syrotian), allowing the company to strengthen, consolidate, and ensure the best people are performing the most suitable roles.

An additional non-executive role on the board is currently vacant. Parimatch has said it hopes to fill this role soon and a search is underway to find a candidate with ‘enthusiasm, ambition, and vision’ that matches those currently on the board.

“For Roman and me, a dual CEO structure is a logical move and consolidation of the company’s growth directions,” commented Maksym Liashko. “We know our areas well, and we will do everything to implement the company’s plans to enter the next level of development.”

Roman Syrotian added: “Maksym and I are granted the responsibility of leading the company as co-CEO. It’s an honour for me. Being already in excellent shape today, Parimatch has ambitions of achieving top positions on the markets all over the world.

“I hope to contribute to this goal by ensuring that we provide our customers with the highest quality entertainment and services.”