Johan Styren will step down as chief executive of LeoVegas' Malta-based subsidiary at the end of next month after five years in the role.

Styren has served as director of LeoVegas Gaming since 2012, and will leave his role on June 30th this year.

Upon departing he will remain a director of certain unnamed LeoVegas Group subsidiaries, but will also step down from these positions following a transitional period.

"Going forward, Johan's responsibilities will be handled within the framework of the existing organization," LeoVegas said.

Styren has worked in the gaming industry since 2008, when he left Danish telecommunications giant TDC to join Unibet (now Kindred Group) as business development manager before moving on to LeoVegas.

"When I started at LeoVegas in 2012 we had just launched and had no customers," he said. "Today we are market leaders."

"Since then, we have managed to build the world's best mobile casino, added sports games and live casino, listed on Nasdaq First North and made LeoVegas one of the best gaming companies in the world," he explained. "After more than five fantastic years, I feel it's time to move on to new challenges."

LeoVegas Group CEO and co-founder Gustaf Hagman said: "Johan has been very valuable to LeoVegas, primarily by being part of building our business in Malta. Johan has been part of creating what LeoVegas is today and I want to thank him for his amazing effort during his 5 years at LeoVegas. I wish him all the best in the future."

Shares in LeoVegas AB (Co.Data) (STO:LEO) climbed 3.54 per cent to SEK51.25 per share in Stockholm Wednesday morning.

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