Years of remarkable growth were not enough keep CEO Per Eriksson in a job when NetEnt’s profit dipped. Now Therese Hillman takes on the challenge of delivering on the company's high expectations.
During Per Eriksson's tenure as NetEnt chief executive between March 2012 and March 2018, the supplier saw annual net profit grow 372 per cent from SEK117m to SEK552m. The business developed from a well-respected supplier to a top-tier developer with the resources and products to make a splash in any regulated market it entered.
This, however, was not enough to save his job. At the time of his removal from as CEO, chairman Vigo Carlund said “the overall performance of the group has not been as it should”. While an unexpected profit warning in January highlighted some issues, Eriksson’s ousting from the top job still came as a surprise.
To outsiders it appeared he had done little wrong. The management change did, however, show that NetEnt is an ambitious company. Failure is not an option.
This has led to finance chief Therese Hillman stepping up to the CEO role to build on Eriksson’s tenure. Yes, the core games development and supply business will continue to be a focus, she says, but instead of allowing hurdles to slow the company’s progress, she aims to find a way around them.
“We need to further develop our live casino, and be even more innovative when it comes to product. Due to the fact that the US is not developing as fast as one would wish, there is a need to look into other territories,” she says, ticking off a few immediate priorities.