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Per Eriksson departs as CEO of NetEnt

The board of directors of global gaming company NetEnt have announced the departure of its CEO and President Per Eriksson, effective immediately.

PerErikssonNetEnt

In a statement, the company confirmed it called for Eriksson’s resignation “in order to increase focus on long-term growth for the company”.

NetEnt has confirmed that recruitment of a new CEO will commence immediately, however in the interim period, NetEnt’s Chief financial officer, Therese Hillman has been appointed to the additional position of acting CEO.

Responding to the announcement, NetEnt’s Chairman of the Board, Vigo Carlund, said:”NetEnt has developed well over many years and several parts of the business are still developing well, for example in regulated markets, but the overall performance of the Group has not been as it should. The Board believes that NetEnt needs a new driving force to reverse the trend and increase the focus on growth.”

Per Eriksson has been with NetEnt for six years, overseeing a strong period of growth, however in recent months the company has seen more modest financial results. In February, the company announced revenue growth of 4.7% during the fourth quarter of 2017 but also reported a 3.9% downturn in its operating profits, which fell to SEK150m. This, it seems was the straw that broke the camel’s back for the NetEnt board.

Carlund added: “The value creation potential in NetEnt remains significant. The online gaming market has structural growth driven by the migration from offline to online gaming. The Company has a solid balance sheet and a strong brand name in its segment of the market. The Board would also like to extend its gratitude to Per Eriksson for his time as CEO for NetEnt.”


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