Brooks H Pierce, the current President and Chief Operating Officer of Inspired Entertainment, has been promoted to chief executive.
Pierce replaces A Lorne Weil who was previously the CEO of the company. Weil has since been promoted to Executive Chair of Supplier’s Board.
Pierce, in addition to his duties as CEO, will continue his position of chief operating officer. He also has additional responsibility for the company’s strategy.
Pierce’s employment contract has been extended until 31 December 2026 as part of this promotion. The base salary of Pierce has been increased from $585,000 to $1.2m. He is eligible for a bonus of up 110% his salary.
In addition to Pierce’s promotion and executive chairman Weil’s extension of his term, the terms of Weil’s employment will now run until 31 December 2027.
Weil has updated its terms of employment, which include an increase in salary to $800,000.
Business said that the changes in leadership were part of an overall plan to simplify strategic oversight and reconfigure office of the Executive Chair.
Inspired announced in November 2022 that it would be making “significant” cuts to its revenue and profits for Q3.
