Toronto-based esports and gaming company Enthusiast Gaming has announced that Nick Brien has resigned as CEO, effective immediately.
The company has chosen current Chairman of the Board and former CEO Adrian Montgomery as its interim CEO and will begin a search to find a new replacement.
From an economic standpoint, 2023 wasn’t a great year for esports and Enthusiast Gaming was one of many entities hit by the macroeconomic conditions. In its latest 2023 Q3 financial report, the esports and media holding company reported an increased net loss of CAD $59.1m (~£34.71m) with revenues failing to increase.
Nonetheless, the company is one of the few public-traded esports companies, owning various properties in the space, including Luminosity Gaming, FPS title EV.IO and Call of Duty League franchise Seattle Surge.
Michael Beckerman, Lead Director of Enthusiast Gaming, commented: “The company is undergoing a critical transformation, so finding the right leader to drive our organisation forward is imperative.
“As the prior long-term CEO and current Chairman, Adrian has always demonstrated tremendous capital markets expertise and successfully guided the company to its position as the leading gaming and entertainment company in North America. The Board of Directors believes Adrian is the right person to lead the company through its transition, supported by a talented team. We appreciate Nick’s contributions and wish him well.”
Prior to joining Enthusiast Gaming in March 2023 following Montgomery’s resignation, Brien was previously the CEO of advertising technology firm Amobee and the Americas CEO of marketing network company Dentsu.
Earlier in September 2023, Enthusiast collaborated with Netflix and Metavision to launch its first-ever Fortnite Creative in-game experience for One Piece. During Q3, it also renewed and worked with notable advertisers including Coca-Cola, UPS, Toyota, Shell, FX Networks, AT&T, Paramount Pictures, and ESPN.