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Damian Mathews has rejoined Esports Entertainment Group (EEG) as chief operating officer after a six-month hiatus.

He previously held the position of CFO from April 2022, and was additionally appointed as COO in June 2022.

Although he resigned from those roles in December 2022, Mathews retained his board seat. He initially joined EEG’s board of directors in June 2020.

“I am delighted to announce that Damian Mathews has agreed to rejoin the senior management team as chief operating officer of Esports Entertainment Group,” said EEG CEO Alex Igelman.

“Despite his departure, he continued to serve as a dedicated member of the board where he felt he could have the greatest impact.

“In his prior, albeit short tenure as COO/CFO, he played an integral role in streamlining the company’s operations and advocating for critical changes within the organisation.

“Importantly, his decision to rejoin the team reflects his complete alignment with the new direction of the company and the promising future of the esports industry,” he concluded.

A new vision

In recent months, EEG has taken significant steps to address various financial challenges and poor performance in 2022.

CEO Igelman spearheaded a restructuring effort that involved a reduction of approximately 37% in headcount and the implementation of cost-cutting measures to improve operational efficiency.

In addition to the workforce reduction, Igelman conducted a thorough review of the company and developed a new corporate vision to guide its future direction.

Dramatic turnaround

Mathews said that since leaving his CFO/COO position, and in his ongoing role as a member of EEG’s board, he has “witnessed firsthand the dramatic turnaround, led by Alex, in just a few short months.”

“I could not be more confident in the new leadership and direction of the company and look forward to playing a key role in driving the financial and operational success of the company.

“The esports and iGaming industries are experiencing rapid growth and I truly believe Esports Entertainment Group is now ideally positioned with the right assets at the right time, with the right leadership and business model to establish a dominant position in this rapidly emerging market,” he concluded.

Mathews has over 25 years of experience in senior finance positions within investment management, banking and accounting.

His previous roles include COO for Auckland Real Estate, CFO of the Qatar and Abu Dhabi Investment Company, and various senior management positions at the Commonwealth Bank of Australia Group, the Royal Bank of Scotland Group, and Credit Suisse First Boston investment bank in London and the Bahamas.

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