Cherry CEO detained for suspected insider trading

Cherry AB was informed by the Stockholm District Court that Holmgren had been detained following an investigation by the Swedish Economic Crime Authority, launched on suspicions of insider crimes as a result of share trading.

The removal of Holmgren as CEO and president is effective immediately with Gunnar Lind filling in as acting CEO.

Gunnar Lind was CEO of Cherry AB for five years until 2011, as well as currently serving as a member of the board and chairman of the Cherry Audit Committee.

Morten Klein, chairman of the board of Cherry AB commented: “Anders Holmgren has made valuable contributions as CEO of Cherry, but he is unable to perform his duties while facing accusations of severe insider trading. The board of directors has today decided to terminate his employment as CEO.

“In connection therewith, Anders Holmgren will also leave his assignments as board member in Cherry’s subsidiaries. As previously announced, Gunnar Lind is acting CEO and will remain in this position to ascertain that the group develops according to plan until a permanent CEO is appointed.”

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Harrison Sayers

Gambling Writer

Harrison Sayers is a journalist and editorial professional specialising in the gambling and iGaming sector. He began his career at Gambling Insider, where he served first as Editorial Assistant (July 2017 – November 2017) and then as Staff Writer from March 2018 to October 2018, contributing news coverage and industry analysis to both the publication’s digital and print channels.

Since then, he has continued his career in gambling regulation and compliance journalism, working with GamblingCompliance and VIXIO where he covers regulatory issues and industry developments across European and African jurisdictions.

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