Betsson has announced that founder and long-serving chief executive Pontus Lindwall is to step down after it said he had “completed” his goals in the role, and the operator has begun the search for his replacement.
Lindwall was first appointed Betsson CEO in 1998, and would hold the position until 2011. He started his second term as CEO in 2017.
Lindwall’s departure comes off the back of a record quarter for Betsson in terms of earnings before interest. Lindwall will remain as CEO until a replacement is found. The operator said that given these results, Lindwall has completed the operator’s “Back on Track” recovery program which he was hired to implement.
Betsson chairman Patrick Svensk said: “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.”
Lindwall has overseen Betsson’s expansion during his most recent spell as CEO. In just the Latin America market in 2021, Betsson has strengthened its position with the acquisitions of Inkbet and JDP Tech – both of which helped the operator achieve record profits in the second quarter of the year.
Svensk added: “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.”
