Cherry CEO departs in management shakeup
Fredrik Burvall takes temporary charge as ex-CEO Emil Sunvisson steps down
Scandinavia-facing casino operator Cherry has announced a shakeup of its senior leadership team with its current CEO stepping down to be replaced by CFO Fredrik Burvall as the firm looks to increase its focus on online gaming.
Emil Sunvisson will step down from the CEO role and replaced by current CFO Fredrik Burvall on an interim basis, although Sunvisson will stay on as a company advisor for a limited period of time.
The shakeup will also see Cherry’s largest investor Morten Klein take up the new role of business development and partnerships, working closely with the operator’s online gaming team in Malta.
Cherry, which also operate land-based casinos and restaurants, said the changes are a reaction to the increasing importance of egaming, including B2B subsidiary Yggdrasil Gaming, to the company’s growth.
Earlier this month Cherry revealed that revenues from its digital operations increased by a third to SEK46.6m (£4m) in Q3 on the back of a 55% increase in deposits to SEK108.7m (£9.3m).
“Cherry’s long-term strategy is generating continued growth in online gaming, both through organic growth and acquisitions, with the goal of reaching profitability in this area as soon as possible,” Cherry chairman Rolf à kerlind, said.
“I would like to extend our appreciation to Emil Sunvisson for his time as CEO. Emil has played a critical role in turning Cherry into a gaming company that is well-positioned for the future,” he added.