FaZe Clan made a massive decision to terminate Lee Trink as the CEO as stock prices faced a downfall. FaZe Clan has been facing a lot of challenges this year. As of now, they have made a big decision to terminate CEO Lee Trink from his position at FaZe Clan. Meanwhile, the stock prices of the organization too have been facing a bad time.
Read ahead to know FaZe Clan terminates Lee Trink as their CEO as stock prices face downfall.
FaZe Clan faces challenges as stock prices go down
FaZe Clan is known as one of the popular eSports and entertainment organisations. While initially, the success of the organization was quite evident. This year has proven to be one of the most challenging ones for it. As currently, the stock prices of the organisation have been at the lowest.
FaZe Clan CEO Lee Trink has been terminated by the company. pic.twitter.com/WDYim7catW— DramaAlert (@DramaAlert) September 11, 2023
Not just that, this situation makes the organisation nearing its NASDAQ delisting. Amid the challenges, the Board Of Directors of FaZe Clan has taken a big decision that has shocked many. As Lee Trink, the CEO of FaZe clan gets terminated from his role in the organisation.
FaZe Clan terminates CEO Lee Trink from his role in the organisation
It was announced on 10th September that FaZe Clan’s Board Of Directors has terminated CEO Lee Trink from his role in the organisation. The association of Trink with FaZe Clan has been since 2016. Which he served five years as the CEO of the organisation till now.
Also, as per reports, FaZe Clan’s termination would be effective immediately. As of now after the announcement of his termination, he will be required to submit his resignation from membership of FaZe Clan’s Board Of Directors as well. The announcement though has come as a shock for many.
Who is to take over as FaZe Clan’s new CEO?
As of now, we have Lee Trink removed from his position as CEO of FaZe Clan. The question in the mind of all is who is to be the new CEO of the organization. The organisation is still looking for a replacement though. But we do know who’s going to be the interim CEO till we get the new CEO announced for FaZe Clan.
At present the Chief Operating Officer and Chief Financial Officer is Christoph Pachler. Pachler will serve as the interim CEO of FaZe Clan till we have a replacement for Trink announced. Pachler has worked with Sony and Playboy previously. While it’s been 13 months since he joined FaZe Clan.