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Nordic Leisure reorganization begins with CEO & CFO departures

23rd October 2013 8:15 am GMT

Sweden’s Nordic Leisure has confirmed that its chief executive Claes Hallén and chief financial officer Andreas Helsing will be leaving the company next May.

Both Hallén and Helsing will step down from their respective roles following the company’s Annual General Meeting next May.

Helsing has been with the company since 2008, taking over as CFO in February 2012, while Hallén was appointed CEO in May 2012.

Nordic Leisure chairman Niklas Braathen said that following the move of the company’s Swedish office from Stockholm to Sigtuna, the time was right for a reorganization of its management team.

“Following the divestment of Redbet, we are now entering a new phase, developing our existing brands with a clear focus on markets, primarily in the former Soviet Union,” said Braathen. “I want to thank both Claes Hallén and Andreas Helsing for their work and excellent contributions to the company.”

Hallén said that by the time of the company’s AGM next year, he will have been CEO for two years.

“The corporate group has progressed well and now has excellent prospects for continued development,” he said. “Following the sale of Redbet earlier in the year, we are entering a restructuring with another geographic market focus.”

Hallén added that currently all of the company’s gaming operations are profitable and growing, and once he has completed his mission to restructure the company in early 2014 , it will be time for him to step down as CEO.

“As a board member, I will actively participate in efforts to find a new CEO, and I look forward to continuing my involvement with the company as a director and shareholder,” he said.

Shares in Nordic Leisure AB (Co. Data) (OMX:NLAB) are currently trading at SEK2.57 per share in Stockholm this morning.

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