GDEV appoints founder as new board chair

LIMASSOL, Cyprus - GDEV Inc. (NASDAQ:GDEV), a global gaming and entertainment company with a market capitalization of $282 million and impressive gross margins of 66%, announced today the appointment of its founder and CEO, Andrey Fadeev, as the new Chairperson of the Board. This change in leadership structure aims to enhance the synergy between the company’s strategic management and operational activities.

Natasha Braginsky Mounier, who served as the independent non-executive director and chairperson, will step down and leave the Board. She will be compensated with a severance payment for her term of service since the last annual general meeting of GDEV’s shareholders. Despite this transition, the Board will maintain its independent majority, with three out of five members being independent, in line with corporate governance best practices.

Board responsibilities previously held by Ms. Braginsky Mounier will be reassigned to the remaining independent directors. Tal Shoham will join the Audit Committee, while Marie Holive will be part of the Nomination and Compensation Committee.

Andrey Fadeev expressed his gratitude to Ms. Braginsky Mounier for her significant contributions to the company’s governance and oversight, praising her role in enhancing board effectiveness and establishing robust oversight practices.

GDEV remains focused on open communication with its stakeholders and is committed to fostering long-term, sustainable growth while adhering to high standards of corporate governance.

The company, which owns franchises such as Hero Wars, Island Hoppers, and Pixel Gun 3D, has achieved over 550 million installs and $2.5 billion in bookings worldwide. With annual revenue of $433 million and a healthy financial outlook, GDEV continues to prioritize the development and growth of its gaming portfolio across various platforms. InvestingPro analysis reveals the company is currently trading at an attractive earnings multiple, with 15 additional key insights available to subscribers.

This leadership change is part of GDEV’s ongoing efforts to align its board leadership with its operational expertise to better capitalize on market opportunities and drive growth. According to InvestingPro data, GDEV appears undervalued at current levels, with analysts expecting net income growth this year. For comprehensive analysis and detailed financial metrics, investors can access the full suite of tools and insights available on InvestingPro.

The information in this article is based on a press release statement from GDEV Inc.

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