Former Esports Entertainment Group CEO slams board over business exit
Grant Johnson reveals his removal as CEO down to board’s opinion he was “uncooperative” in their objectives
Former Esports Entertainment Group (EEG) CEO Grant Johnson has spoken about the circumstances surrounding his recent departure from the firm.
Taking to LinkedIn to explain the situation, Johnson confirmed that he was asked to leave the business on 3 December, confirming his departure had been instigated by the firm’s board of directors.
“It was decided last Saturday, when it was felt I was uncooperative in some objectives of the board of directors, to dismiss me, so here I am on the outside looking in,” Johnson wrote.
Johnson then reflected on his time with EEG since founding the business eight years ago.
He continued: “The eight-year journey has been one with many ups and downs and I suspect there are lots of opinions regarding the journey given the current market, and understandably I imagine many are negative.
“However as anyone who has ever met me knows, I had endless energy for the company and the people at EEG. I always maintained a deep passionate belief in what we were doing.
“ I just want to say thank you to the many wonderful people that I had the opportunity to work with along the way,” Johnson concluded.
The board has already announced that it has identified several candidates to take over Johnson’s role.
Johnson’s departure comes amid a turbulent year for EEG, which has seen its shares price plummet by 98.06% over the last 12 months.
Despite this drop-off, the company confirmed it has been approved to continue its listing on the Nasdaq.
In a recent statement, EEG announced that it had made several moves to cut costs.
The first was the sale of its Spanish online casino business, with the deal set to close on Monday 12 December.
EEG also confirmed it has closed all of Argyll’s igaming operations in the UK and Ireland due to high operation costs and the gaming arm’s inability to generate profit.