Raketech begins search for new CEO as Mühlbach steps down

Raketech chief executive Oskar Mühlbach has handed in his resignation over differing views on the future direction of the company.

Mühlbach has served as chief executive officer of the online gaming affiliate since December 2019 and steps down with immediate effect.

He will be replaced by Raketetch co-founder and former board member Johan Svensson, who will serve as acting CEO until a permanent replacement is identified.

Svensson previously served as the company’s CEO from 2010 to 2017 and currently serves as chief commercial officer.

“During his four years as CEO, Oskar Mühlbach has led the company through a strategic transformation and a growth journey. As Mühlbach and the Board of Directors have different views on the strategic considerations for the Company going forward, we have agreed to part companies,” said Ulrik Bengtsson, chairman of Raketech.

“The Board is confident in appointing the co-founder and former Board member Johan Svensson to lead the company until a new permanent CEO is in place. The Board would like to take the opportunity to thank Oskar Mühlbach as he has played an important role in the company's success over the past four years. Thanks to his leadership, the company has a strong foundation to build upon moving forward.”

Shares in Raketetch Group Holdings plc. (STO:RAKE) closed 1.41 per cent lower at SEK18.14 per share in Stockholm Thursday.