New Betsson board elects to retain Pontus Lindwall

Betsson chief executive Pontus Lindwall will continue to lead the company in his current role following recent changes to the board of directors.

The board of Betsson announced in September that Lindwall would be stepping down from his role, having completed the company’s “Back on Track” programme, although Betsson chairman Patrick Svensk was ultimately the one to stand down after criticism of his handling of the announcement.

With a new board of directors and chairman now in place, the board has elected to reverse the previous board’s decision, with Lindwall continuing to lead the business as chief executive, supported by new chairman Johan Lundberg.

Betsson attributed the reversal to the company’s near to mid-term priorities, such as securing re-entry to the Dutch market and its planned US entry in early 2022.

“We have had several discussions with Betsson's main stakeholders, the Betsson management team, Betsson employees, as well as many of the largest shareholders,” said Lundberg.

“Based on those discussions, the current board does not believe that it would be good to change leadership now. The company needs to focus on the all-important work that lays ahead, such as the unexpected Dutch situation.”

Shares in Betsson AB (STO:BETS-B) were trading 1.22 per cent lower at SEK56.60 per share in Stockholm Tuesday morning.