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Magnus Silfverberg is to step down from his position as president and chief executive of Swedish gaming operator Betsson after four years in the role, with his predecessor Pontus Lindwall temporarily returning to the helm until a successor is chosen.

Silfverberg leaves Betsson after six years with the business, four of which were as president and CEO. He will officially step down following the presentation of the company’s results for the first half of 2015, scheduled for July 17th, and will be taking on a new role in another industry.

As a result of his departure Pontus Lindwall, who served as the operator’s chief executive following its spin-off from Cherry AB until July 2011, will return as CEO and president on July 20th, managing the company until a suitable replacement for Silfverberg is found.

Lindwall has also served as CEO of Cherry, which was founded by Lindwall’s father as Restaurang Rouletter in 1963, and co-founded NetEnt, which was spun off from Betsson.

Since 2011 Lindwall has been executive chairman of Betsson, and while he serves as CEO, he will be replaced as chairman by board member Lars Linder-Aronson.

“I have had six fantastic years at Betsson,” Silfverberg said. “The company has during this period more than tripled in size and quadrupled its market value.

“I am proud of the journey we have made, and it has not been an easy decision to leave Betsson. However, I am leaving a company in top shape with a very strong culture, and I have great confidence that Betsson will continue to develop well in the future.”

Lindwall paid tribute to Silfverberg, saying that he has “truly contributed” to the operator’s success and current strong market position.

“The Betsson Group has today a strong customer focus and a clear strategy which we intend to continue working after,” he added.

News of Silfverberg’s departure caused shares in Betsson AB (Co.Data) (OMX:BETS-B) to fall 2.32 per cent in Stockholm early Tuesday to SEK126.50 per share.

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