Online gaming operator and content provider Glitnor Group has announced that David Flynn is to step down as chief executive and take on a new board role.
Flynn, who will move to the provider’s board at the start of 2023, has been CEO of Glitnor since January 2020.
During this time, he also served as CEO of Glitnor’s Swintt business and as an investor and board advisor at payment provider Pay4Fun.
Prior to joining Glitnor, he was CEO of operations at Jackpotjoy, where he was also the CEO of Vera & John, while earlier in his career he spent four years at NYX Gaming Group, first as executive vice-president of business development and then chief commercial officer.
Flynn’s other roles included CEO and COO of NYX Interactive and head of operations for Microgaming.
Nordlund to become interim Glitnor CEO
Upon stepping down as CEO of Glitnor, Flynn will hand over the reins on an interim basis to co-founder Jorgen Nordlund until a replacement has been appointed.
“Over the past three and a half years I’ve had the pleasure to hire, work with, create and help develop an amazing team at Glitnor, delivering exceptional brands and celebrating outstanding year-on-year growth across the business,” Flynn said.
“With our continued strong growth aspirations in mind, I’ve decided that now is the time to look further ahead for Glitnor and make a change which, I believe, will help take Glitnor, and everyone involved, to the next level.
“Thus, with the full support of our founders and board, I shall move to a group board role where I will continue to develop our long-term strategy and support our operational management.
“After 20 years in igaming I really believe that my experience will better serve the group as a member of the board supporting the incoming CEO, as we continue to grow and expand the business.”
Dan Andersson, chairman of the board at Glitnor, added: “In our quest to reach excellence and make it possible to continue our growth at such a rapid pace, David has been absolutely key in developing the group and taking the next step in our growth plan.
“It is now good timing to make such a change as we strengthen the board in preparation for the stock market, given financial market sentiment turning more positive in 2023. We look forward to having David working actively in the board.”
Acquisition cancelled, ventures arm launches
The announcement comes in what has been a busy few days for Glitnor, which earlier this week said it would not proceed with a planned full-scale acquisition of affiliate business KaFe Rocks Group as the two businesses mutually agreed not to go forward with the deal.
In February, the group reached an agreement to acquire KaFe Rocks, but the businesses “mutually and amicably” decided not to complete the transaction.
Glitnor said given current market conditions, it agreed with KaFe Rocks that “now is not the time to fully complete the acquisition”.
Also this week, Glitnor established a new venture capital arm with the aim of leveraging its network of divisions and investment areas.
Glitnor Ventures will have an initial focus on the recently announced investments in affiliate businesses KaFe Rocks and Time2Play – which is itself a KaFe Rocks brand – while the division also holds an interest in Indian-based game development studio RNGPlay.