Key points:
- Ulrik Bengtsson to step down as Chairman of Raketech after accepting a full-time CEO role elsewhere
- The nomination committee has begun searching for a replacement, with further updates expected
- Bengtsson has served on Raketech’s board since 2021 and will remain until the end of July to aid the transition
Raketech has announced that Chairman Ulrik Bengtsson will step down later this year after accepting a full-time CEO role at another company.
Bengtsson, who joined the board in May 2021, informed the company of his decision, citing the opportunity as a compelling next step in his career.
Although he will not remain in the role long term, Bengtsson has agreed to stay on until 30 July.
He will also be available for re-election at Raketech’s annual general meeting (AGM) in May. The nomination committee has now begun the process of identifying a new board member, who may also take on the role of Non-Executive Chair.
Bengtsson commented: “Stepping back into a full-time CEO role feels like the right professional move for me. I am confident that the entire Raketech board and executive team remain dedicated to strengthening the balance sheet and shaping an exciting strategy that I expect will be unveiled to investors in the coming months.”
Good to know: While Bengtsson’s next role has not been confirmed, Gambling Insider understands that it will not be with Entain, as the operator’s CEO search has not yet progressed to that stage
Raketech has faced financial headwinds in recent quarters, with Q2 2024 revenue declining 3.4% year-on-year to €17m ($18.7m), partly due to the impact of a Google algorithm update on its Casumba assets.
Despite revenue challenges, Raketech recently adjusted its full-year guidance, now forecasting an adjusted EBITDA between €17m and €19m – down from its previous estimate of €20m.
Additionally, Raketech completed the sale of its non-core US advisory business in July 2024, taking a €10.5m impairment charge as part of the divestment.
