According to a statement on Kindred’s website, Lundborg’s resignation is related to an ongoing Swedish Economic Crime Authority investigation for insider crime.
The operator said it has no further details on the investigation at this time but is fully cooperating with the investigation.
“The resignation of Stefan Lundborg was unavoidable considering the investigation against him by the Swedish Economic Crime Authority,” commented Anders Ström, chairman of the board at Kindred.
“The Board would like to emphasise that no other representatives of the company have been served any suspicion of misconduct and neither is the company itself under any suspicion.”
On Wednesday, it was announced Ström will not stand for re-election at Kindred’s Annual General Meeting next year.
The executive said he intends to spend more time managing investments by stepping down from his role in the company as he approaches his 50th birthday.
Ström founded Unibet, Kindred’s original brand, in 1997 as a telephone betting service focussed on the Swedish market.
In 1999, Ström restructured Unibet, launching English and Swedish language websites before taking up the position of company chairman in 2000.