Rashid Varachia has been appointed to Team17’s board as CFO and COO.
- Varachia replaces Mark Crawford, who steps down on October 31, 2024.
- Varachia brings extensive experience from Jagex and Codemasters.
- He played significant roles in major acquisitions and listings.
- Team17 expects Varachia to drive growth and shareholder value.
Rashid Varachia has joined the board of Team17, a prominent indie games developer and publisher in Wakefield, as both the Chief Financial Officer and the newly created position of Chief Operating Officer. His appointment is effective immediately. Mark Crawford, who has served as the group’s CFO, will step down on October 31, 2024, to pursue other business interests. Crawford is committed to a smooth transition and is working closely with the company for an orderly handover.
Varachia brings a wealth of experience to Team17. Previously, he was the CFO at Jagex, a well-known developer and publisher of online games, most famous for the RuneScape franchise. During his tenure at Jagex, he was instrumental in achieving substantial organic growth and facilitated several successful acquisitions. Notably, in May 2024, he played a key role in the sale of Jagex to CVC Capital Partners and Haveli Investments.
Before his time at Jagex, Varachia served as the CFO at Codemasters, a distinguished British video game developer and publisher known for its high-caliber racing games. He began his journey at Codemasters as VP of Finance in 2012 and was elevated to the role of CFO in 2015. In 2018, he was a crucial part of the team that managed Codemasters’ £280 million listing on the London Stock Exchange. In 2021, he led the company’s successful sale to Electronic Arts Inc. for a notable $1.2 billion.
Commenting on Varachia’s appointment, Frank Sagnier, the Non-Executive Chair of Team17, expressed his gratitude towards Mark Crawford for his five-year tenure, wishing him success in his future endeavors. Sagnier added his welcome to Varachia, acknowledging his proven track record in the video game industry and his consistent ability to deliver growth and value to investors. Sagnier’s confidence in Varachia’s capabilities aligns with Team17’s ambitions to accelerate its growth trajectory and enhance shareholder value.
Rashid Varachia’s strategic expertise is set to advance Team17’s growth ambitions.
