Betsson has announced that longtime founder and chief executive Pontus Lindwall will step down after stressing that he has “completed” his goals, and the operator has begun a search for his replacement. Lindwall was first named CEO of Betsson in 1998 and would hold the position until 2011. He began his second term as CEO in 2017.
Lindwall’s departure comes after a record quarter for the company in terms of earnings before interest. He will remain CEO until a replacement is found. The operator said that with these results, Lindwall completed the “Back on Track” recovery program that it was contracted to implement.
Betsson President Patrick Svensk said: “Pontus Lindwall has played an invaluable role in the successful development of Betsson. When he took over as CEO in 2017, his mission was to strengthen the company’s position and create a solid platform for continued growth.”
Svensk completed: “This task has now been completed. We are grateful for all the good work Pontus Lindwall has done during these years and for the solid foundation he created for the future.”
Lindwall oversaw Betsson’s expansion during his most recent stint as CEO. In the Latin American market alone in 2021, Betsson strengthened its position with the acquisitions of Inkbet and JDP Tech, two companies that helped the operator achieve record profits in the second quarter of the year.
The company president concluded: “Betsson has never been in a better position than today. We’ve built a solid business, with competent employees and adequate finances. The assessment of the Board is that it is a good opportunity to make a change in the position of CEO”.
From a single slot machine in 1963 to being listed on Nasdaq Stockholm and holding gaming licenses in 12 jurisdictions, Betsson has come a long way. Today, it is a multinational company employing around 1,800 people of more than 55 nationalities in 10 locations. Headquarters are in Stockholm, Sweden, but operational headquarters are in Ta ‘Xbiex, Malta.