Kambi CEO Kristian Nylén announces resignation

Kambi chief executive and co-founder Kristian Nylén has announced his decision to step down from the day-to-day management of the company.

Nylén has led Kambi since co-founding the sports betting solutions business with Anders Ström in 2010 and will step down as chief executive during the course of this year.

He will continue to support the business following his resignation, having been nominated for election to the board of directors at the 2024 annual general meeting of the company.

“The decision to stand down from my position at Kambi after so many enjoyable years has been difficult, but one predominantly driven by my desire to spend more time with my young and growing family,” said Nylén.

“As co-founder, my heart and professional allegiance remain firmly with Kambi, therefore, I am honoured to accept the Nomination Committee’s proposal to join the Board. Pending my election at the forthcoming AGM, I look forward to focusing more intensively on the strategic aspects of our business, however, my immediate attention remains on driving Kambi forward in my current role.”

Nylén has been nominated as a new director alongside former Don Best Sports managing director Benjie Cherniak.

If elected, they will serve on the board alongside Anders Ström (chairman), Patrick Clase, Marlene Forsell and Cecilia de Leeuw.

“Kristian’s role has been critical in positioning Kambi as a frontrunner in our sector,” said Ström. “His strategic foresight and unwavering commitment have been central to our many achievements over the years. I am delighted the Nomination Committee has proposed Kristian for the Board, where his extensive industry knowledge will continue to greatly benefit Kambi.

“I am confident that Kristian’s insights and proficiency will persist in advancing the Company and creating value for our shareholders. His potential transition to a Board position reflects his enduring dedication to Kambi as both a founder and a major shareholder, while also ensuring a consistent and stable strategic course for the Company.”

The search for a new chief executive officer will commence immediately.

Shares in Kambi Group plc. (STO:KAMBI) were trading 1.59 per cent lower at SEK160.90 per share in Stockholm Monday morning.