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Posted 20 March, 2023

Motorsport Games Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:MSGM in a 8-K filed on 20 March, 2023.


  Effective March 20, 2023, Dmitry Kozko, the Company's Chief Executive Officer and Interim Chief Financial Officer, resigned as Company's Interim Chief Financial Officer and, immediately thereafter, effective March 20, 2023, Jason Potter was appointed as the Company's Chief Financial Officer, as well as the Company's Principal Financial Officer and Principal Accounting Officer.  

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Overview of Motorsport Games Inc.
Consumer Goods • Toys & Games
Motorsport Games, Inc. engages in the business of developing and publishing racing games. It operates under the Gaming and Esports segments. The Gaming segment focuses on the development and publishing of interactive racing video games, entertainment content, and services. The Esports segment is involved in the organization and facilitation of esports tournaments, competitions, and events for licensed racing games, as well as on behalf of third-party video game racing series and other video game publishers. The company was founded on August 2, 2018 and is headquartered in Miami, FL.
Market Cap
$4.89M
View Company Details
Motorsport Games Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Effective March 15, 2023, the compensation committee of the board of directors of Motorsport Games Inc.'s (the "Company") approved a one-time cash bonus in the amount of $50,000 to Dmitry Kozko, the Company's Chief Executive Officer and Interim Chief Financial Officer in connection with his efforts in (i) securing equity financing to the Company in 3 registered direct offerings that raised approximately $11.32 Million and (ii) coordinating with Motorsport Network, LLC, the largest stockholder of the Company, the debt in debt-for-equity exchanges that resulted in retiring approximately $4 million of Company's debt. The bonus amount is approximately 0.3% of the aggregate raised capital and the retired debt.


Effective March 20, 2023, Dmitry Kozko, the Company's Chief Executive Officer and Interim Chief Financial Officer, resigned as Company's Interim Chief Financial Officer and, immediately thereafter, effective March 20, 2023, Jason Potter was appointed as the Company's Chief Financial Officer, as well as the Company's Principal Financial Officer and Principal Accounting Officer.


Mr. Kozko will continue serving as the Chief Executive Officer of the Company.


Jason Potter, 38, joined Motorsport Network, LLC ("MSN"), the majority stockholder of the Company, on September 2021 and will continue to serve as Chief Accounting Officer of MSN. Since September 2022, he has served as the Chief Accounting Officer of the Company under a shared service agreement between the Company and MSN. In addition, Mr. Potter has served as the Company's Secretary and Treasurer since January 26, 2023. Prior to joining MSN, Mr. Potter held the position of Director in the audit practice of PricewaterhouseCoopers LLP (PwC) between June 2018 and September 2021, and Senior Manager in PwC's national office between June 2016 and June 2018. He holds an active Certified Public Accountant (CPA) license in the state of Oregon, is a Fellow Chartered Accountant of the Institute of Chartered Accountants England & Wales and graduated from Cardiff University in 2007 with an undergraduate degree in Journalism, Film & Media.


There are no family relationships between Mr. Potter on the one hand and any director, executive officer, or any affiliate of the Company or MSN.


In connection with assuming such duties, Mr. Potter will receive an annual base salary equal to gross $230,000. Mr. Potter will be eligible for a $20,000 bonus payable in $10,000 increments on March 31 and September 30, with the first eligible bonus payment being March 31, 2023.