Swedish sports betting solutions provider Betting Promotion has appointed Christer Fahlstedt as its new CEO following the acquisition of online gaming technology provider Tain.

Fahlstedt has been CEO of Tain since July 2009 and replaces Jonas Ornstein as CEO of the newly merged company.

Fahlstedt has previously served as CEO and board member of several companies including City Inn Ltd, CAPM Sales AB and Dobb Production AB. He was also on the board of Expekt.com between 2004 and 2009.

He begins his new role today following approval from the Betting Promotion board at the company’s extraordinary general meeting yesterday.

“The CEO change is a natural part of the merger, and I am confident that Christer with his many years in the industry can contribute to that the joint group will again achieve profitability,” said Betting Promotion chairman Peter Åström.

Ornstein will remain with the company, taking on the role of chief operating officer.

Shares in Betting Promotion SE (Co. Data) (OMX:BETT) have dropped 2.50 per cent to SEK3.90 per share in Stockholm this morning as at 09:00 CET.