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Gfinity Announces Restructure And CEO Departure

Gfinity Announces Restructure And CEO Departure

Gfinity, a leading UK-based esports and gaming company, has made several significant announcements regarding its future direction.

In a statement released through the London Stock Exchange, the company shared that it is planning to raise at least GBP£1.5 million (AUD$2.62 million) in the coming months to improve profitability and restructure the company.

This comes following the departure of CEO John Clarke, whose role will not be filled immediately.

Instead, non-executive chairman, Neville Upton, will take on the role of executive chairman, while chief financial and operating officer, Jonathan Hall, will focus on their esports solutions business.

The restructuring will see Gfinity become less reliant on esports services and operations, and more focused on its three core pillars: the Gfinity digital media community of hard-to-reach gamers, the Athlos technology department, and its other esports solutions.

This will help the company become more resilient to market shifts and be on a path to profitability by the end of 2023.

The Gfinity Arena in Fulham, London will close its doors, but the company will continue to operate in the US through a partnership with an unnamed American firm.

This will allow Gfinity to jointly deliver esports solutions and continue to host live events.

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