Foster served in the position for more than five years but stepped down in order to spend more time on other business ventures.
Alongside his role with the GBGA, Foster is currently chief executive of Crucial Compliance, having founded the consultancy in July 2019.
He is also chief compliance officer of Ultimate Platform Technology, another company that he founded. In addition, Foster serves as a director of Combined Solutions Group, a business he launched in March 2021.
“We would like to say thank you to Paul for all his hard work over the past five years and the best of luck with his future endeavours,” GBGA chairman Nigel Birrell said.
The GBGA’s CEO role will now be replaced with the position of “secretary-general”. Nicholas Macias, formerly chief operations officer at the GBGA, will return to the organisation to take up this new role.
“Nicky is a veteran of our industry in Gibraltar and has held senior compliance positions since 2014 and is well known to all of you,” Birrell said. “We wish Nicky the very best of luck in this new position and look forward to working with him over the coming years.”
In other news, Merel Swarts will leave her position as coordinator at the GBGA. She served in the role since December 2021 and is also part of the team at Crucial Compliance.
In addition, Angela Almeida and Bua Malamalatabua from The Dream Team, who have been helping the GBGA with website and social media management and engagement, will take on expanded roles.
Almeida and Malamalatabua will carry out additional administration and operations duties at the GBGA.
“We look forward to evolving our strategy over the coming months, starting with supporting you with understanding and adapting to the new Gambling Act in Gibraltar and its resultant revised licensing regime, as well as revised and/or new codes of practice,” Birrell said.