Betsson AB board confirms Pontus Lindwall will remain as CEO

STOCKHOLM 20201113 Personalporträtt Besson Foto: Anders Wiklund / TT kod 10040

Online gaming company Betsson AB, highly active in LatAm and looking to increase its presence in North America, has opted to withdraw the decision taken by its board of directors to seek a replacement for current CEO Pontus Lindwall.

The decision, said the firm in a statement released today, is based on its near time to mid future priorities such as US market entry and developments in the Netherlands. In revoking the decision to replace Lindwall, as communicated on September 19, board Chairman Johan Lundberg said that there had been several discussions with Betsson’s main stakeholders, management team and employees, as well as many of the largest shareholders.

“Based on those discussions the current Board does not believe that it would be good to change leadership now. The company needs to focus on all important work that lays ahead, such as for example the unexpected Dutch situation,” he said, in reference to the recently launched online gambling marketplace in the Netherlands which will operate under the rules and regulations of the ‘KOA’ Remote Gambling Act. 

Back in September, the board had concluded that Lindwall had completed the “Back on Track” assignment, a program he was hired as CEO to implement in 2017. In the second quarter of 2021, Betsson reported its best quarter to date in terms of sales and earnings.

Lindwall has led the development of Betsson and its predecessors for almost 25 years and is one of the industry’s leading profiles in digital gaming and gambling. He was appointed CEO in 1998 and held that position until 2011 when he was elected Chairman of the Board. He took up his most recent assignment as CEO in 2017.