Enthusiast Gaming shareholder calls for change of leadership
James Batchelor
Editor-in-Chief
Tuesday 24th May 2022
Enthusiast Gaming
Enthusiast Gaming is under fire from its largest shareholder, which is campaigning for a change of leadership -- including the CEO and board of directors.
In an open letter addressed to the board, long-running shareholder Greywood has called for chief executive Adrian Montgomery to be removed from his position. The letter requests that Montgomery be replaced by chief operating officer Thamba Tharmalingam on an interim basis until a suitable candidate is found.
Greywood also wants to replace the majority of the board of directors with people who are more experienced in the gaming media, esports, and events industries Enthusiast operates in. It will be submitting its suggestions ahead of the company's annual shareholders meeting in June.
Enthusiast Gaming is the Canada-based digital media company, behind video games websites such as The Escapist, Destructoid, Daily Esports and Upcomer. It also owns Steel Media, which runs Pocket Gamer, PC Games Insider and events like Pocket Gamer Connects.
Enthusiast also owns esports teams, including Luminosity Gaming, and runs the Enthusiast Gaming Live Expo in Toronto, where it's based.
It was listed on the NASDAQ Capital Market in 2020, and before that it was on the Toronto Stock Exchange.
Greywood says it has been investing in Enthusiast since before it was publicly traded, reporting that it has poured over $30 million into 9.3% of the company's outstanding shares. This, it claims, is more than the entire board of directors combined.
"Our investment in Enthusiast reflects our belief in the Company's enormous potential," Greywood wrote. "Unfortunately, under current leadership, that potential is being squandered.
"We came to
Read more on gamesindustry.biz
