Amidst Falling Stock Prices, FaZe Clan Takes a Shocking Action Against CEO Lee Trink
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FaZe Clan is currently going through a tumultuous time. They have been facing internal clashes between members for a while, with a public fight between FaZe Rain and Grace Van Dien. Following that, recently their stock took the biggest hit and dipped to an all-time low mark. With the future of the team at stake, fans are looking at the next step of the upper management to set things right.
It looks like these steps to bring the team back on track are already being taken. FaZe Clan has started the changes from the top, with strict action against their CEO Lee Trink. Their long-time member, FaZe Rain, has also given some intriguing insights on the action against Lee Trink.
FaZe Clan removes Lee Trink from the CEO position
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In a shocking announcement made by the FaZe Clan, they have decided to terminate Lee Trink from the CEO position, effective immediately. Trink has been the CEO for five years and has been with FaZe since 2016. This change comes in the wake of the possible delisting of the organization from NASDAQ.
FaZe Clan CEO Lee Trink has been terminated by the company, effective immediately pic.twitter.com/SyDquWhxGO
— Jake Lucky (@JakeSucky) September 11, 2023
For the time being, the board of directors has appointed COO and CFO Christoph Pachler to serve as interim CEO. Joining in August 2022, Pachler is a newcomer in FaZe Clan, having previously worked with Sony. FaZe Rain responded to the tweet, saying, “Don’t get excited, trust😂.”
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He further disclosed some inside information to his fans. FaZe Rain sent a post reading, “You know what’s funny is the new FaZe CEO was the one going against them to give us all the inside information.” Rain also shared how his getting information was “just to clear competition to become CEO.”
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FaZe Rain speaks on new CEO going against old CEO to take their spot pic.twitter.com/j6l48F6REk
— DramaAlert (@DramaAlert) September 11, 2023
These statements from Rain have further added fuel to the fire. Fans are now speculating on the next step from the board of directors to save the Esports organization. While some fans are suggesting a content creator should take up the reigns of the org, some are suggesting a merger.
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However, the fans believe it is high time to make some changes to FaZe. What are your thoughts on the changes made by the board of directors of FaZe Clan? Let us know in the comments section below.
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Edited by:
Stefan Thomas