Kambi names Ström as chairman to replace Lars Stugemo

Kambi co-founder and board member Anders Ström has been appointed as the sportsbook technology provider’s new chair.

Ström takes over as chair from Lars Stugemo, who has decided to stand down after almost 10 years in role.

Stugemo leaves the Board with immediate effect, but will continue to serve as a member of the Nomination Committee on behalf of Kambi’s largest shareholder, Veralda Investment.

“After 14 years of an inspiring journey with Kambi, including almost a decade as chair, I have decided, after careful consideration, not to stand for re-election next year,” said Stugemo. “It became clear that I should, if possible, promptly pass the leadership to someone else. In this case, both I and Kambi are fortunate that Kambi’s co-founder Anders Ström is also a member of the Board and is ready to immediately take over as chair.

“The Kambi journey has been remarkable, from early days serving a handful of partners to becoming a market leader with award-winning products and esteemed clients around the world. It has been an immense privilege and joy to work closely and intensively with Kambi, alongside an inspiring entrepreneur like Anders Ström.”

Ström founded Kindred Group in 1997 and then later co-founded Kambi alongside CEO Kristian Nylén in 2010. He has been a Kambi Board member since its formation.

“Lars has made many important contributions to Kambi’s development to becoming the world’s leading sportsbook provider and, as both a founder and shareholder, I am very grateful for the journey we have undertaken together and wish him all the best in his future endeavours,” said Ström. “I am honoured to have been asked by Kambi’s Board to become its chair and look forward to leading the Board of a company which is showing real commercial momentum through recent partner signings and redefining what is possible in sports betting through significant technological breakthroughs including AI-powered trading.

“These achievements not only strengthen our position but also boost morale and drive within the company, paving the way for future successes and growth,” Ström added.

Shares in Kambi Group plc. (STO:KAMBI) were trading marginally higher at SEK169.90 per share in Stockholm Thursday morning.