SNAI chairman to step down

SNAI has announced that Gabriele Del Torchio has resigned from his role as executive chairman.

Del Torchio, who will also leave his position on the company’s board from next week, waived his right to be appointed as chairman for the period from 2016 to 2018, as well as any related fixed and variable compensation.

SNAI in a statement said that Del Torchio has also waived his right to “any claims for any reasons whatsoever, either contractual or non-contractual, directly or indirectly, associated with the role covered at SNAI for the whole period including the resignation”.

As a result, SNAI will now grant Del Torchio an overall gross amount of €400,000 ($455,800) as a full and final settlement of any amount due related to his roles with the company.

“SNAI Group thanks Mr Del Torchio for his significant contribution to the company, especially during the integration with Cogemat/Cogetech Group,” the company said.

The move has also been approved by SNAI’s board of directors, remuneration committee, related parties committee and board of statutory advisors.

Related article: Snai targets online casino growth through iSoftBet games