Betsson Group has confirmed the commencement of the process to find a replacement for long-time CEO and founder Pontus Lindwall.
The Board of Directors of Betsson said that Pontus Lindwall has completed the assignment “Back on Track,” which is the programme he was hired as CEO to implement in 2017. In the second quarter of 2021, Betsson reported its best quarter to date in terms of sales and earnings.
The Board believes that Betsson is ready for further renewal in order to meet the challenges in an international environment, more regulated markets and take advantage of new opportunities.
“Betsson has never been in a better position than today. We have built up a strong business, with competent employees and good finances. The Board’s assessment is that it is a good opportunity to make a change in the position of CEO,” Patrick Svensk, Chairman of the Board of Betsson, said.
Pontus Lindwall has led the development of Betsson and its predecessors for almost 25 years and is one of the industry’s leading profiles in digital gaming and gambling. Pontus Lindwall was appointed CEO of Betsson as early as 1998 and held that position until 2011, when he was elected Chairman of the Board. He took up his most recent assignment as CEO in 2017.
“Pontus Lindwall has played an invaluable role in Betsson’s successful development. When he took over as CEO in 2017, his mission was to strengthen the company’s position and create a solid platform for continued growth. That task has now been completed. We are grateful for all the good work Pontus Lindwall has done during these years and the strong foundation he has created for the future,” Patrick Svensk said.
Pontus Lindwall will remain as CEO until a new CEO has been appointed. Pontus Lindwall is entitled to twelve months’ severance pay from the time he leaves the company.