Wakefield-based Team17 Group plc, a developer of video games and educational entertainment apps, has appointed Rashid Varachia to the Board as Chief Financial Officer, and to a newly created position of Chief Operating Officer, with immediate effect.

The company said Mark Crawford, the group’s current Chief Financial Officer, is stepping down on 31 October to pursue other business interests and is working with the company to ensure an orderly handover. 

Varachia is an experienced Chief Financial Officer with significant video games, M&A and capital markets experience.

He joins Team17 from Jagex, a developer and publisher of role-playing and online living games, including the iconic RuneScape franchise, where he has held the role of Chief Financial Officer since August 2021. During his tenure he helped deliver considerable organic growth and several successful acquisitions.

In May 2024, Varachia was instrumental in the sale of Jagex to CVC Capital Partners and Haveli Investments.

Prior to Jagex, he was Chief Financial Officer at Codemasters, the award-winning British video game developer and publisher specialising in racing games. Varachia joined Codemasters in 2012 as Vice President of Finance, before being appointed Chief Financial Officer in 2015. In 2018 he was an integral part of the team that oversaw Codemasters’ £280 million listing on the London Stock Exchange and in 2021 led the sale of the business to Electronic Arts Inc. for $1.2 billion.

Frank Sagnier, Non-Executive Chair of Team17, said: “Firstly, I’d like to thank Mark for his contribution to Team17 over the last five years and wish him well in all his future endeavours.”

“I would also like to welcome Rashid into the Team17 family. He is a proven CFO and experienced video games industry professional, who has consistently delivered growth and value to investors in the sector. As we seek to accelerate growth and drive shareholder value, I am confident Rashid will be a great addition to the management team.”