Betsson’s board of directors has decided Pontus Lindwall has reached the goal of the program “Back on Track” which was assigned to him when he was hired as CEO in 2017.
Thanks to that program, the group reported the second quarter of 2021 to be the best one to date in terms of sales and earnings.
But the board now believes the company is ready for a renewal, ready to rise to the challenges of an international environment, and so it will begin the work of searching for its next international leader.
Patrick Svensk, Chairman of the board of Betsson, explained: "Betsson has never been in a better position than today. We have built up a strong business, with competent employees and good finances. The board's assessment is that it is a good opportunity to make a change in the position of CEO."
The new leader is expected to take advantage of the new opportunities brought by the increased number of new regulated markets. Using his experience in digital gaming and gambling, Lindwall oversaw the company’s development for almost 25 years.
Patrick Svensk concluded: "Pontus Lindwall has played an invaluable role in Betsson's successful development. When he took over as CEO in 2017, his mission was to strengthen the company's position and create a solid platform for continued growth. That task has now been completed. We are grateful for all the good work Pontus Lindwall has done during these years and the strong foundation he has created for the future."
Lindwall will keep the CEO role until a replacement is appointed; he is entitled to 12 months’ severance pay upon his departure from the company.