Stockholm-listed sports betting technology provider Kambi Group has strengthened its management team with the appointment of current board member Cecilia Wachtmeister as an executive vice president.

Wachtmeister will stand down from Kambi board at this year's annual general meeting (AGM) next month to take up her position on the executive management team.

Reporting into Kambi CEO Kristian Nylen, Wachtmeister will take on the role of executive vice president of business and group functions. She will split her time between the supplier’s London and Stockholm offices, and assumes responsibility for the group's commercial, marketing communications, strategy and human resources functions.

Wachtmeister joined the Kambi board in 2017 and has a wealth of experience following a distinguished career at telecommunications giant Ericsson AB, where she held a number of senior roles, most recently as vice president of group sourcing.

“Cecilia has proven to be a major asset to the Kambi board over the past two years, demonstrating her business acumen and ability to gain a quick and detailed understanding of Kambi and its competitive landscape,” Nylén said.

“While I'm sure the board will miss Cecilia's unquestionable talent, I'm delighted to welcome her to the executive management team, where her passion and valuable experience will assist Kambi's smooth transition from mid-tier company to large organisation."

Wachtmeister said of her new role: “I'm delighted to become EVP business and group functions at Kambi, a company I have had the pleasure to watch grow impressively during a period of immense change in the global sports betting industry.

"My time on the board has afforded me valuable insight into Kambi, its culture and people - a team I'm now tremendously proud to become part of - and I look forward to contributing when the company take its next steps in this exciting growth phase.”

Shares in Kambi Group plc (STO:KAMBI) were trading down 2.65 per cent at SEK154.30 per share in Stockholm Monday morning.