LeoVegas chairman Mårten Forste takes over as Malta COO

24th January 2020 11:12 am GMT

Mårten Forste, the chairman of Stockholm-listed gaming operator LeoVegas, is moving to a new executive role as he assumes the duties of chief operating officer in Malta.

Forste has served as chairman of the board for the past three years and will now assume the role of COO to replace Richard Woodbridge, who will leave LeoVegas at the end of May to take a new job outside the industry.

Forste begins as COO in Malta on 3 February and will continue as chairman until the company's next annual general meeting in May, when a new chairman will be proposed by the company’s Nomination Committee.

“After having served on the board since 2012, I am proud to join LeoVegas’ operations team,” said Forste. “The gaming market is dynamic, and I am convinced that we are in the best possible place to further strengthen our position as market leader in the casino segment.

“I look forward to working further on the course charted by the management team, creating shareholder value and continuing to take market shares by delivering a safe, sustainable and entertaining customer experience.”

Forste previously served as chief operating officer of Match.com and its European brand Meetic, and also spent five years as Swedish country manager for betting and gaming operator Expekt.com.

“It is truly unfortunate to lose such an ambitious and talented person as Richard Woodbridge. He is highly appreciated in the company, and I wish him success in the future,” said LeoVegas Group CEO Gustaf Hagman.

“Mårten is the perfect successor, as he has been with LeoVegas from the start and is a strong contributing force behind our strategy and operations. He has good knowledge about all parts of LeoVegas and our culture, and he knows what we need to do to further develop the company and be ‘King of Casino’. His experience clearly makes him the right person to further build upon what Richard has started.”

Shares in LeoVegas AB (STO:LEO) were trading down 0.69 per cent at SEK28.75 per share in Stockholm Friday morning.

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