Andreas Ternström departs Scout Gaming Group

Scout Gaming Group chief financial officer Niklas Jönsson will serve as acting CEO while the company looks for a permanent replacement.

Norway.- Andreas Ternström has stepped down as CEO and president of fantasy gaming provider Scout Gaming Group after six years in the role. Chief financial officer Niklas Jönsson will step in as acting CEO until a permanent replacement is found. In March, Ternström had announced a cost review due to slow growth and increased expenses.

New chairman Niklas Braathen said: “I want on behalf of the company to give a big appreciation to Andreas who has who put in a very great commitment to creating Scout Gaming’s organisation and not least the product that Scout Gaming today possesses. 

“Headwinds have been blowing for a while for the company, and a major reorganisation and transformation of how the company’s operations are conducted is now ahead of us, we have therefore agreed that it is appropriate for Andreas to leave the company. 

“He will be available to the company in any matters, which is important, and provides security for the company’s board, management and organisation.”

Ternström said: “I would like to thank all partners, co-workers, board and owners for this time. I would like to give a special thanks to all talented and courageous employees in Ukraine who are valiantly working despite the war and two years of pandemic. 

“I will remain as a shareholder and will be close to the company. I hope that I can also be of use for the company and its development in the future.”

Last month, Scout Gaming Group announced a capital raise after its working capital reached a level which is below the rules of Nasdaq First North Growth Market. The company has since finalised terms for a bridge loan, which it intends to follow with a convertible loan during the summer and a new share issue.