Boss of Worms video game maker exits after rebrand
Shares in London-listed indie video games maker Everplay fell on Friday as it revealed chief executive Steve Bell has left the firm after less than two years in charge.
Everplay, which rebranded from Team17 in March, told shareholders a recruitment process has begun after Bell stepped down from the board and his role as CEO with immediate effect.
The group, which is behind the iconic Worms video game series, will be led in the interim by non-executive chair Frank Sagnier.
Sagnier has almost 30 years' gaming sector experience, having held public, private equity and senior roles with the likes of Codemasters, Electronic Arts, Acclaim Entertainment, and Funcom.
Everplay said he will 'ensure the continued execution' of its strategic plan, support the existing executive team and divisional leaders, and provide the board with 'adequate time to recruit the suitable candidate'.
Penny Judd will become senior independent director in addition to remaining chair of the audit committee.
Sagnier said: 'On behalf of the board I would like to thank Steve for both his commitment and support over the past two years, in particular rebranding the business and supporting the reset of our strategic focus.'
Everyplay shares were down 4.3 per cent to 265p in early trading. They have still added around 17 per cent since the start of the year and almost 35 per cent over the last six months.
The group said it would update investors on the search for a new CEO 'as and when appropriate', and reiterated forecasts for the year.
Sagnier added: 'The business continues to execute on its strategic priorities: to accelerate growth alongside improving profitability, with an elevated focus on first-party IP, our evergreen franchises and improved returns.'
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