Pontus Lindwall to remain CEO at Betsson

Betsson’s board has reversed its previous decision, restoring Pontus Lindwall as CEO.

Sweden.- Pontus Lindwall will continue as Betsson’s chief executive following a boardroom reversal at the company. Lindwall, who served as CEO from 1998 to 2011 and then from 2017, was due to leave following a surprise announcement last month. 

Betsson said in a release at the time that he had “completed” his goals in the role after Betsson’s successful results.

However, the way Lindwall’s exit was announced led the board to pass a vote of no confidence in board chair Patrick Svensk, who subsequently announced his resignation.

Jan Nord has also since announced his departure from the board, but his decision is not connected.

Shareholders have now confirmed new board appointments at an Extraordinary General Meeting and have reappointed Lindwall as CEO.

The new chairman Johan Lundberg said: “We have had several discussions with Betsson’s main stakeholders, the Betsson management team, Betsson 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 need to focus on all important work that lays ahead, such as for example the unexpected Dutch situation.”

Lundberg was re-elected to the board at the EGM as were Eva Leach and Fredrik Carlsson. Lindwall will also join the board, along with Peter Hamberg, until the end of the next annual general meeting.