LONDON (ShareCast) - (Sharecast News) - Everplay Group shares were in the red on Friday morning, after it announced that chief executive officer Steve Bell was stepping down with immediate effect.
Frank Sagnier, currently non-executive chair, was appointed interim executive chair as the board began the search for a permanent CEO.

The AIM-traded company, formerly known as Team17, said Sagnier would bring nearly three decades of industry experience to the role from positions at Codemasters, Electronic Arts, Acclaim Entertainment and Funcom, and would support the executive team in executing the group's strategy during the interim period.

The company also named Penny Judd as senior independent director, adding to her existing role as chair of the audit committee.

Judd, a board member since Everplay's 2018 initial public offering, has over 30 years' experience in compliance, regulation and corporate finance.

"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," said interim executive chair Frank Sagnier.

"As interim executive chair, I look forward to working with the broader leadership team as 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.

"I am also grateful to the Board for their continued support and counsel and would like to personally thank Debbie for her ongoing commitment to everplay and industry insight as a board director."

Everplay also reaffirmed that trading for the year to 31 December was continuing in line with market expectations, as last outlined in its March results statement.

The group said it still expected an improved performance for the year, and was planning to issue a first-half trading update in early July.

At 0919 BST, shares in Everplay Group were down 3.97% at 266p.

Reporting by Josh White for Sharecast.com.

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