Ivan Tavrin resigns from the post of chairman of the Board of directors of Nexters and from the company. Igor Bukhman and Boris Herzovsky are also leaving the council

Nexters has a significant reshuffle in the board of directors. Ivan Tavrin, the former CEO of Megafon and the current owner of media holding Media-1, is leaving the post of chairman of the board and the company as a whole. Igor Bukhman and Boris Herzovsky will also leave the council.

This is reported by the company itself. Let’s go through the permutations in more detail. First we will note those who leave:

Ivan Tavrin

  • Who: a major Russian entrepreneur, previously headed the TV channel “7TV“, the media holding “UTV“, the company “MegaFon“. Today owns Media-1 (it includes: three TV channels, including Muz-TV; Russia’s largest digital outdoor advertising network Gallary; as well as more than 90 radio stations, including Europa Plus and Autoradio) and Kismet Capital Group (now buying telecom companies).
  • How he previously joined the Nexters board of directors: after the Nexters SPAC merger with his Kismet Acquisition One in February 2021.
  • What happened: he no longer holds the post of chairman of the board of directors, is also no longer a member of the board and “will no longer be related to the operational or other activities of the company.”

Igor Bukhman

  • Who: Co-founder and co-owner of Playrix.
  • How he joined the board of directors of Nexters earlier: apparently, in the summer of 2018 after he invested an unspecified amount in the company together with his brother.
  • What happened: resigns from the board of directors, but remains among the main shareholders of the company, “will continue to participate in the exchange of experience and expertise between Nexters and Playrix.”

Boris Herzovsky

  • Who: previously Vice President of TimeZero, vice president of Astrum Online, as well as co-owner of Crazy Bit, which became Nexters when merged with Progrestar. Today he is the co-founder and co-owner of Nexters.
  • How he joined the Nexters board of directors earlier: as one of the co-founders of Nexters (at the start he had 25% of the company).
  • What happened: resigns from the board of directors, but remains among the main shareholders of the company, “will continue to develop R&D initiatives, work with new projects and other areas in Nexters.

The company also has three new independent directors.

Tal Shoham

  • Previously, he was Vice President of International Business Development at Supersonic, Chief Operating Officer at ironSource, and Marketing Director at Huuuge Games. Today, Tal is the co—founder and president of the Tedoo social network, as well as an investor in the Israeli venture fund Vgames.

Mary Holive

  • For a long time she was responsible for auditing at General Electric. Then she spent eight years in senior positions in finance at NBCUniversal. In recent years, he has been actively acting as an adviser and mentor, and also serves on the board of directors of startups SAFETYN and This Way Up.

Olga Loskutova

  • She worked for Nestle for twelve years, where she was engaged in the promotion of chocolate bars, and headed the Bystrov cereal division. He has been working in the USA at Whirlpool for the last five years. Now he holds the position of Vice president of the company for product and brand development at EMEA.

The former positions on the board of directors remained:

  • Andrey Fadeev is the former founder and co—owner of Progrestar, which merged with Crazy Bit to become Nexters. Today, co-founder, co-owner and CEO of Nexters;
  • Dmitry Bukhman is the co—founder and co-owner of Playrix.

In the role of independent directors also remained:

Natasha Braginsky-Mounier

  • He has been engaged in investment banking analytics since 1991. For more than ten years, she was responsible for investment analytics at Capital Group. Until February 2022, she was a member of the Supervisory Board of Sberbank for 11 months. He has been an independent director at Nexters since August last year.

Andrew Sheppard

  • The former president of Kabam, also served as the executive director of GREE, an investor in dozens of gaming teams (Singularity 6, Spatial, Maestro, thatgamecompany, Nifty Games, Heroic Story and others). He has been a member of the Board of Directors since August 2021.

The reshuffle will take effect on August 28.

“The last months have been one of the most difficult periods in the company’s history. There have been changes in operations and optimization, and other initiatives have been launched, including the current reshuffle of the board of directors. All these are the steps that were necessary to guide the company on the right path. Taking into account the measures taken, we hope for the further growth of Nexters as an international public company,” Fadeev commented on the situation.

The company also reported financial results for January-March 2022. The main ones are as follows:

  • record high quarterly revenue of $126 million (45% annual growth);
  • receipts (bookings) amounted to $127 million (an increase of 13%);
  • a record high quarterly net profit of $23 million (a year earlier, the company had a loss of $12 million for the same quarter);
  • 375 thousand monthly paying users (plus 18%).
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