Magnus Silfverberg, president and CEO of Swedish betting operator Betsson AB, has announced he’ll be leaving the company next month.
On Tuesday, Betsson announced that Silfverberg (pictured) would vacate the CEO chair on July 17, following the presentation of the company’s H1 earnings report. Silfverberg, who has been Betsson’s CEO for the past four years, is leaving the gaming industry to become CEO of business decision support organization Bisnode.
Betsson chairman Pontus Lindwall will step into the void created by Silfverberg’s departure until a permanent successor can be chosen. Lindwall has been chairman for the past four years but previously spent nine years as Betsson’s CEO. Lindwall’s chairman seat will be kept warm by current Betsson board member Lars Linder-Aronson while the search for a new CEO will begin “immediately.”
Silfverberg said he’d enjoyed “six fantastic years” with Betsson, during which time the company had “more than tripled in size and quadrupled its market value.” Silfverberg expressed confidence that he was leaving the company “in top shape with a very strong culture and I have great confidence that Betsson will continue to develop well n the future.”
Lindwall wished Silfverberg all the best in his new career and credited the outgoing exec for having “truly contributed to Betsson’s success and its strong current market position … The Betsson Group has today a strong customer focus and a clear strategy which we intend to continue working after.”
In a trading update issued in April, Betsson reported revenue up 24% to a record SEK 847m (US $98m) and profits up 42% to SEK 224.1m.