FaZe removes Lee Trink from CEO position amidst prolonged slump

North American club FaZe has terminated the contract of CEO Lee Trink. This was announced by Dexerto, which found out about the decision of the club’s Board of Directors.

It was reported that the reason for parting ways with Trink is FaZe's prolonged slump, amidst which the organization is losing a lot of money on the maintenance of the CS:GO roster and its other divisions. Earlier it became known that the club loses around $700K on esports monthly.

Furthermore, the decision to bid farewell to the CEO stems from FaZe's struggles on the stock market. The organization is currently facing Nasdaq delisting in light of declining stock price of its shares.

Trink has worked for FaZe since 2016, and became the club's CEO in 2018. It was reported that the organization's current Chief Operating Officer and Chief Financial Officer, Christoph Pachler, will take over the management of the company.

Earlier reports also suggested that FaZe could sell a portion of its shares to competitors. In particular, Enthusiast Gaming and GamesSquare were named, but later Luminosity owners denied any interest in acquiring the club.

Origin: www.dexerto.com