Management Shake-up at FaZe Holdings Amidst Financial Struggles
FaZe Holdings Inc, the parent company of the popular gaming and youth culture brand FaZe Clan, has announced significant changes to its management structure. Christoph Pachler, currently Chief Financial Officer, will expand his role to include Chief Operating Officer of FaZe Holdings, while Erik Anderson takes on the role of President of FaZe Clan, Inc. Both will directly report to CEO Lee Trink.
Pachler joined FaZe Holdings as CFO in September 2022 and has since proven instrumental in enhancing the company’s cost structure and enforcing stringent financial discipline across the board. As the newly appointed COO, Pachler will spearhead efforts to improve organizational efficiency.
Lee Trink, CEO of FaZe Holdings, expressed his optimism for the changes, stating, “These appointments demonstrate our focus on driving the FaZe business and brand forward while assuring a cost-effective approach to operating the business as we pursue our path to profitability.”
Erik Anderson Steps Up as FaZe Clan President
Erik Anderson, a member of FaZe Clan since 2016, previously served as head of esports. His tenure saw significant growth in the esports division, which currently competes across 13 titles with an impressive tally of 40 championships. As the newly appointed President, Anderson will take on more extensive leadership responsibilities while continuing to steer the esports division.
“Erik has deep roots at FaZe Clan and has been a critical leader throughout the past several years with a proven track record of successfully growing and developing talent,” Trink added, expressing his confidence in Anderson’s expanded role.
Resignation and Other Personnel Changes
Amid these changes, FaZe Holdings also announced the resignation of Zach Katz from his dual role as President and COO, effective May 31, 2023, as he seeks to explore other business opportunities.
These developments follow a period of financial hardship for the organization, which reported a net loss of $14.04m in the first quarter of 2023, and declining revenues and profits. The company is also transitioning from Matt ‘BK’ Augustin’s promotion to Vice President of Brand and Creative Strategy earlier in March.
As FaZe Holdings and FaZe Clan navigate these challenging times, they hope these management shifts will herald a new era of growth and profitability for the gaming conglomerate.