888 Holdings said Chief Executive Itai Frieberger was stepping down, and would be replaced by Chief Operating Officer Itai Pazner.

Mr Frieberger will stay on as a company director for up to 12 months to help a “seamless transition”, 888 said in a statement on Thursday.

“After eight exciting and rewarding years as a senior executive in a dynamic global business,” said Mr Frieberger, who joined the business 14 years ago, “this is the right time for me to step back from the day-to-day running of 888”.