A much-respected video game industry finance executive, Rashid joins Jagex having spent the past nine years with Codemasters, where he was Chief Financial Officer and integral to the racing game studio’s growth, stock market listing in 2018, its acquisition of Slightly Mad Studios in 2019, and its recent acquisition by Electronic Arts. Prior to Codemasters, Rashid held financial leadership roles at Technicolor Home Entertainment Services.
The appointment comes in a year that saw Carlyle, a global investment firm, acquire Jagex following multiple consecutive years of the company’s growth.
Phil Mansell, CEO of Jagex, said: “I am delighted to welcome Rashid to Jagex and our leadership team as we take the company, our teams, our games, and our player communities, forward on a multi-year growth journey. Rashid brings more than 20 years of financial leadership expertise to the company and, with a proven track record of success at Codemasters, I’m proud to have him on board as the first CFO to serve with me.
“With the backing of Carlyle, which supports our vision for growth, Jagex continues to attract high-quality and passionate people to join our outstanding development, publishing, and operational teams that drive us forward.”
Rashid Varachia, CFO of Jagex, said: “With more than 20 years of expertise in delivering incredible multiplayer online role-playing game experiences for a global player base, there’s so much to admire in Jagex as a leader and innovator in living games. I am excited and privileged to join Phil and his experienced executive team as we build on the company’s most successful years to date and continue to drive it forward for future growth.”