Mark Brosnan has stepped down as CEO of online betting exchange Matchbook.
Ireland.- Mark Brosnan has stepped down as CEO of Triplebet’s online betting exchange, Matchbook.
He will be replaced on an interim basis by Farzad Peyman, CFO of the company’s B2B supplier Xanadu.
Brosnan became CEO in 2013. He led the relaunch of Matchbook’s betting exchange platform and grew Matchbook’s technology and engineering at its headquarters in Cork, Ireland.
He will continue to serve as a company director at Matchbook’s holding company Newfoundland Limited, and at Cork-based B2B supplier Xanadu Consultancy.
He will work to develop Xanadu’s B2B capacity and advise leadership on technology projects and commercial strategies, the company said.
Matchbook interim CEO, Farzad Peyman, said: “We are enormously indebted to Mark for everything which he has done for this business over the last 16 years.
“Mark is a fantastic business leader who operates with tremendous authenticity and warmth. He has navigated the business through an amazing growth journey and leaves behind a market leading technology stack which is built for scale and business primed for growth.”
Matchbook, which is registered in Alderney, was suspended from operating in the UK on February 17 after the UK Gambling Commission (UKGC) found AML failings in an investigation into operating company Triplebet.
The investigation concluded the company had failed to carry out proper due diligence checks on members of gambling syndicates. Triplebet was subsequently issued with a £739,000 fine.