Investing.com -- Shares of Everplay Group (LON:EVPL) fell over 3% on Friday after the company announced that its chief executive Steve Bell has stepped down with immediate effect.
Frank Sagnier, previously non-executive chair, has been appointed interim executive chair while a search for a new CEO begins.
The company reaffirmed that trading for the year ending Dec. 31, 2025, remains in line with upgraded market expectations issued in March.
At that time, everplay reported improved performance projections for fiscal year 2025 and declared a proposed maiden dividend.
Bell’s departure was described as a mutual decision between him and the Board. He had served as CEO for two years.
Sagnier, who has nearly three decades of experience in the gaming industry, will oversee the continued execution of the company’s strategy alongside the executive team.
His prior roles include senior positions at Codemasters, Electronic Arts (NASDAQ:EA), Acclaim Entertainment and Funcom.
As part of its full-year results announcement on March 26, everplay stated that performance for fiscal 2025 was expected to be marginally ahead of previous market expectations. The company said on Friday that trading continues to align with those projections. A
Analysts at Jefferies said the leadership transition follows a period of progress at the company, and noted that both Sagnier and CFO/COO Rashid Varachia have experience in the sector, including in transaction execution.