GI Huddle: Interview with Maximiliashko, Co-CEO of Parimatch

Introduction

• Host: Tim
• Guest: Maximiliashko (Co-CEO of Parimatch)
• Topic: Company’s latest restructure at the executive level and new supervisory board.

Overview of the Restructure

• *Two significant changes:
  • New supervisory board layer of management.
  • Transition from one CEO to two Co-CEOs.
  • Former CEO, Sergey Portnov, moved to the supervisory board.
  • Maximiliashko and Roman Syrotian are the new Co-CEOs.

Supervisory Board

• Monthly high-level strategic reviews.
• Separate day-to-day operations from strategic oversight.
• Both Co-CEOs are members but the board offers a ‘helicopter view’.
• Facilitates deep analysis from a strategic point of view.

Sergey Portnov's New Role

• Chairman of the Supervisory Board:
  • Creates agenda and leads discussions.
  • Requests information and conducts deep dives on specific countries or partnerships.
  • Focuses on high-level discussions and partnership formations.

Roles and Responsibilities

Co-CEOs

• Maximiliashko:
  • Finance
  • Legal
  • Administration
  • Public Relations (PR)
  • Government Relations (GR)
• Roman Syrotian:
  • Information Technology (IT)
  • Marketing
  • Product and Software Development

Strategic Goals

• Public Model Operations:
  • Preparations for going public in the next 3-5 years via IPO, bonds, or SPACs.
• *Franchise Business Model:
  • Expansion to multiple countries by providing software and trademarks to partners.
  • Aim to grow significantly through the franchise model by collecting royalties.

Discussion on Co-CEO Structure

• *Rarity and Perception:
  • Co-CEO structure is rare in the gaming industry.
  • Concerns exist that having two people in charge can lead to lack of clear leadership.
• *Advantages:
  • Allows for specialization in different operational areas.
  • Provides comprehensive strategic and operational oversight.
  • Divides responsibilities efficiently for daily operations and long-term planning.
• Challenges:
  • Initial confusion for external partners on whom to connect with first.
  • Requires thorough public relations efforts to clarify roles and responsibilities.

Closing Remarks

• Importance of a clear PR campaign to explain the new structure to partners and the public.
• Emphasis on both short-term operational efficiency and long-term strategic planning for going public and global expansion.

Contact and Further Information

• For more on sports betting, check the May/June edition of Gaming Insider magazine.