OverActive Media has confirmed Chris Overholt has stepped down from his role as CEO and will be replaced on an interim basis by Adam Adamou.

The Toronto-based sports, media and entertainment company fields teams across multiple esports titles via its subsidiaries, including the Overwatch League, and last year its Toronto Ultra franchise hosted Canada’s first Call of Duty league major tournament at the Mattamy Athletic Centre, with players competing for almost $625,000 in prize money.

But the firm will now be shorn of the services of Overholt, who leaves to ‘pursue another opportunity’, though he has agreed to stay on as a strategic advisor for 30 days to ensure a smooth transition.

Reflecting on Overholt’s stewardship as the company’s founding CEO since Oct. 2018, Chair Sheldon Pollack said: “Under Chris’ leadership, OverActive has emerged as one of the world’s leading esports organizations. His experience, passion and vision for our potential has established a strong foundation on which we will continue building our business.

“We are grateful to have had Chris leading our organization during such a pivotal time in our development.

“On behalf of the Board of Directors, I would like to thank Chris for his wonderful contribution and extend our best wishes for his continued success.”

During Overholt’s tenure with OverActive, the former CEO of the Canadian Olympic Committee attracted an industry-leading team of executives and staff who together secured such notable investors as The Weeknd, Bell and the Montréal Canadiens, executed several key acquisitions, and established marketing partnerships with a number of blue-chip brand partners in Europe and Canada including Bell and TD Bank.

His team also led the company to its successful go-public listing on the Toronto Venture Exchange in 2021.

Succeeding Overholt – at least on a temporary basis – is Co-Founder and Chief Strategy Officer Adamou.

Commenting on his ascension within the firm, Adamou said: “I am honoured to continue my work as a leader with this amazing executive team and all the talented staff here at OverActive and I would like to thank the Board for this incredible opportunity.

“We are in an exciting industry at an incredible time and OverActive is poised to seize the many opportunities that lay ahead. Our priority remains – to redefine the future of sports and entertainment by focusing on today’s generation of fans.

“We have all the ingredients for sustained success – a strong and engaged Board, wonderfully supportive marketing partners and fans, and a fantastic leadership team and staff.”

Pollack added: “Since co-founding OverActive in 2018, Adam has been a trusted leader in our industry and a strong advocate for the global opportunity that our company represents.

“He is a leading voice of influence in the industry and his broad-gauged experience in early-stage venture opportunities has already contributed significantly to OverActive’s success.”