Gaming Innovation Group (GiG Software), a leading B2B iGaming technology company, announced that it will be parting ways with its chief financial officer. The news was confirmed by the outgoing CFO, Phil Richards, who said that he will be joining an engineering software development company.
Richards Exits GiG Software
In its official announcement, GiG Software said that the departure is effective from November 2. It also confirmed that Richards will remain available to provide assistance with the change of responsibilities, ensuring a smooth transition.
GiG Software thanked the outgoing executive for his incredible contributions to the company and wished him all the best in the future. The company’s chief executive officer, Richard Carter, acknowledged the important role Richards played, saying:
On behalf of management and the Board, I would like to thank Phil for his contribution to GiG. He has played an important role in the Company’s financial reporting, investor relations and corporate development activity, and we wish him well for the future.
Richard Carter, CEO, GiG Software
Richards also released a statement on the matter, thanking GiG Software for their trust over the years. He added that he believes that the company is poised for future success.
It has been a privilege to serve as CFO of GiG. I would like to thank Richard, the Board and my colleagues for this opportunity, and I am very confident the business is well placed for its next phase.
Phil Richards, outgoing CFO, GiG Software
At the same time, GiG Software confirmed that it is currently on the lookout for someone to succeed Richards in the CFO position. The company promised to provide an update in the near future.
Richards Prepares to Join Chaos
On his personal LinkedIn account, Richards released a lengthier post, in which he spoke about the two and a half years he spent with GiG Software. He said that he had the opportunity to serve the company during a period of significant change, including its initial public offering. In addition to that, Richards played a key role in sharpening the company’s focus and the quality of its platform. His efforts culminated in the company’s recent acquisition of a majority stake in 888Africa.
Richards also spoke about his plans for the future, saying that he will soon be joining Chaos, an established developer of technology for architecture, engineering, construction, product design, manufacturing, and media and entertainment.
Richards will join Chaos on December 1 and will serve as its new chief financial officer. He said that the company is experiencing a “very exciting stage of growth” and added that he is looking forward to tackling this new challenge.
In other news, GiG Software just released its financial update for Q3 2026, highlighting a slight decrease in revenue and an increase in net loss.