Betsson CEO Ulrik Bengtsson departs after board fallout
EGR sources say Bengtsson is leaving the firm following a disagreement with the board over the operator’s strategic priorities
Betsson AB president and CEO Ulrik Bengtsson is to leave the Stockholm-listed operator following a disagreement with the board over the company’s strategic priorities.
According to a number of sources, the fallout was prompted primarily by a difference in opinion on the future of Betsson’s Turkey-facing business, as well as disagreement over the pace of its acquisition strategy.
In its recent Q2 2017 report, Betsson said: “In 2007, Turkey introduced legislation against internet gaming that did not fall within the local regulatory framework and it reinforced parts of this legislation in 2013.
“A Betsson associate, which has its own gaming licence in Malta and is owned and managed separately, accepts that Turkish gamblers bet under this licence.
“Pursuant to the legal situation described above, income originating from Turkey can be regarded as comprising a higher operational risk than income from other markets.”
Bengtsson, who has been CEO since March 2016, is believed not to have officially left his post but is expected to do so in the coming days.
Bengtsson is expected to vacate his role at Betsson in the coming days
The operator’s board has appointed chairman Pontus Lindwall as temporary CEO until a permanent replacement for Bengtsson is found, while Lindwall’s role will be assumed by board member Patrick Svensk until further notice.
Jesper Svensson, chief commercial officer of BML Group, has been appointed acting CEO of Betsson’s operational subsidiary in Malta.
“Ulrik Bengtsson has done a good job for Betsson during the five years he has been employed by the Group,” Lindwall said.
“He has clarified the strategy and implemented significant product launches.
“On behalf of the Board and myself, I would like to thank Ulrik for his efforts.”
Bengtsson became president and CEO of Betsson AB on 1 March 2016 after nearly four years heading up the European gaming giant’s operational business based in Malta.
His appointment brought to an end a process to replace former Betsson CEO Magnus Silfverberg who left the firm in July 2015.
Commenting on Bengtsson’s departure, VP corporate communications Pia Rosin said: “Betsson’s board of directors and Ulrik Bengtsson have agreed that Ulrik should leave his position as CEO of Betsson.
“This decision has nothing to do with Betsson providing technology to Realm Entertainment. Speculation that this would be the case has been denied directly by Pontus Lindwall.”