Xanadu Consultancy, the online betting platform holding company Matchbook (Matchbook.com) has reported Mark Brosnan’s decision to step down as Chief Executive.
Brosnan’s decision would see interim CFO Farzad Peyman of Xanadu performing CEO duties.
Moving forward Xanadu announced that Brosnan will continue to serve as a director of the company to help the company grow its current B2B ability and advise leadership on development initiatives and commercial strategies.
Since 2013, Brosnan has acted as CEO leading the creation and relaunch of the new Matchbook betting exchange platform while also expanding Matchbook’s technology and engineering teams from headquarters in Cork, Ireland.
Peyman commented: “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.”
As a result of an inquiry into its operating company Triplebet due to ‘serious AML failings,’ Matchbook has been suspended by the UK Gambling Commission (UKGC) since February 17.
In April, the UKGC released its investigation findings alleging that Triplebet had ‘failed to monitor business relationships’ and carry out proper due diligence tests on members of the gambling syndicates.