Colossus Bets reshuffles executive pack amid US expansion plans
CEO David O’Reilly and COO Eva Karagianni-Goel to depart in September as pooled bets operator rings changes
Colossus Bets has confirmed the upcoming departure of CEO David O’Reilly and COO Eva Karagianni-Goel as part of a revamping of its C-level executives ahead of an expected expansion into the US market.
O’Reilly and Karagianni-Goel will exit the business in September, with the former spending less than two years at the helm of the pool and syndicate betting operator.
He acceded to the CEO role in October 2020, replacing Colossus Bets’ founder Bernard Marantelli, who stepped down after serving as CEO since the company’s inception in 2012.
Karagianni-Goel, who joined the firm in 2016, moved to the COO role following the previous board reshuffle after Marantelli’s departure.
As part of these latest changes, Colossus Bets’ current chief technology officer (CTO) Paula Cara Farcas will be named CEO, with chief information officer Alberto Zuin stepping up to the CTO role.
Laurence Jones, who presently serves as Colossus’ head of product, and one of the firm’s original employees, has been promoted to the role of chief product officer.
Colossus Bets has confirmed Karagianni-Goel’s replacement has yet to be appointed.
“The new leadership team reflects Colossus’ expansion as a provider of pools, tote and cash-out technology,” the syndicate betting operator said in a statement confirming the board changes.
Marantelli moved to Spain with his family in 2020 following his departure from Colossus but has served in a consultancy role advising the business on a variety of issues including business development and product innovation.
Addressing the C-level changes, the Colossus Bets founder highlighted the contribution by Cara Farcas in building and controlling the firm’s entire technology stack during her time as CTO.
“She combines a deep understanding of our world-leading technology with strong commercial acumen, which makes her the natural choice to lead Colossus into the future,” Marantelli said.
“Looking at the entire new C-level team, we are really fortunate to have mentored such strong talent internally, allowing us to confidently pass the baton to this next generation of leaders at an exciting time for the company.
“We could not have done better by looking externally on any level.”
Marantelli continued, citing the contribution of the departing executives to the business: “I would like to thank Eva and David for their multiple contributions over the past years and for leading the company to the stage where it is today, serving tens of partners and thousands of users globally.
“We have built a solid foundation to continue to scale and capture the value of our significant IP and technology assets, including now in the US market,” Marantelli added.
Colossus is currently undergoing a licensing process for its pool betting product across the US market with the firm close to agreeing deals with a number of operators.
The firm has stated its ambition to be live in the US with those pool markets before the end of 2022.