The executive was made acting CEO of Global Gaming in April 2019, becoming permanent in July 2019. Although stepping down as CEO, Fagerlund will assist the Global Gaming Board in an advisory role.

In a company press release, Niklas Braathen, chairman of the board of Global Gaming, explained that the change comes as the company “is facing a new phase,” making it necessary to “further strengthen the company’s position.”

Christian Rasmussen, a former member of the Board, has been appointed as acting CEO for the company. The Board will initiate a recruitment process in the search for a new CEO.

Commenting on Fagerlund’s departure, Braathen said: “It is my opinion that during his time as CEO, Tobias led Global Gaming in a very meritorious way.

“He has completed one large part of our restructuring measures and demonstrated a strong and clear leadership that was absolutely necessary for the company.

“Tobias has therefore with great success laid a good foundation for Global Gaming’s future operations.”

Gambling Insider has contacted Fagerlund for comment on his departure from the company.