Gfinity shares boosted by appointment of sports industry titan
Esports company Gfinity PLC’s shares jumped on Thursday after the company announced the appointment of experienced sports executive Garry Cook as its new executive chairman.
Cook can boast an array of high profile leadership roles include a stint as chief global brand officer for the mixed martial arts organisation the Ultimate Fighting Championship (UFC), chief executive for Manchester City Football Club and president of Nike Inc's 'Jordan Brand'.
The promotion from non-executive director for Cook is intended to allow him to "spearhead the development and delivery of the next chapter of the Company's global growth," according to Gfinity.
Newly minted executive chairman Cook said: "There are many aspects of traditional sports that apply to the esports world. Some of the largest global sporting franchises are now engaging in this space and taking interest and participation to new levels.There are multiple opportunities for Gfinity in a rapidly developing sector, one that is forecast to grow to $1.65bn globally by 2021."
Gfinity also announced that Tony Collyer, a member of the board for four years including a period of three and a half years as chairman, will step down with immediate effect.
"I would like to thank Tony for leading the Board in developing Gfinity to its current leading position within the esports industry," said Cook.
As of 1444 BST, Gfinity’s shares were up 13.73% at 14.50p.