Betsson chairman resigns over handling of CEO departure

Betsson has appointed Johan Lundberg as chairman with immediate effect to replace Patrick Svensk.

Lundberg has served on the board of directors of Betsson AB since 2018 and takes over from Svensk, who has lost the trust of the board due to his handling of last week’s announcement regarding the departure of chief executive Pontus Lindwall.

Svenks has resigned as director and chairman after the company’s major shareholders said they no longer have full confidence in him.

“It is very sad, and I am sorry that I have disappointed our major owners, but I have done what I thought was best for the company,” said Svensk following his resignation. “I am proud of what we have achieved during these years and wish everyone at Betsson great luck in the future.”

Lundberg commented: “I would like to extend a warm thank you to Patrick Svensk for his valuable contributions to the board for almost 17 years.

“I look forward to continuing the work with the rest of the board to recruit the next generation of international leader to Betsson and at the same time complete the strategic work that is going on with renewal and growth.”

Shares in Betsson AB (STO:BETS-B) were trading 3.03 per cent lower at SEK86.30 per share in Stockholm Thursday morning.