Bragg Gaming Group’s chief operating officer has been handed the top job on a temporary basis as the company navigates a sudden leadership transition at the executive level.
Morten Tonnesen will serve as interim CEO with immediate effect, stepping in after Matevž Mazij formally vacated the position he has held since August 2023.
No explanation has been offered by the company for why the change is happening now, leaving the circumstances of the departure largely unexplained.
Mazij is not leaving the business entirely, instead transitioning into a newly defined strategic advisor role that the company described as carrying “no day-to-day management responsibility.”
The advisory position is intended to help maintain continuity with stakeholders during the handover period, with Mazij expected to provide guidance on broader strategic matters.
Bragg chairman Matt Davey acknowledged the outgoing CEO’s considerable contribution to the company, highlighting a career at Bragg that predates his time in the top role.
Davey noted that Mazij founded Oryx, successfully brought it into the Bragg fold through a merger, and steered the business through what he called a demanding period across the industry.
“On behalf of the board, I want to thank Matevž for his service as CEO and for everything he has built at the company,” Davey said, adding that the board was pleased he would continue contributing his knowledge in his new role.
The chairman also used the announcement to lay out a clear set of priorities for the next chapter, signalling that financial discipline and product development are front of mind for the board.
“The board’s focus for the next phase is on disciplined execution, improving balance sheet strength, operating cash flow, and development and deployment of market leading technology, content and services,” Davey stated.
The reference to balance sheet strength and operating cash flow suggests the incoming leadership will face pressure to demonstrate commercial progress in the near term.
Tonnesen inherits a company whose founder-era leadership is now formally at arm’s length, with a search for a permanent CEO presumably forming part of the board’s immediate agenda.
