Betssons CEO Ulrik Bengtsson resigns with immediate effect the company reports in a press release as the stock free falls on the market.
According to a press release made by Betsson the board and CEO Ulrik Bengtsson has agreed for Mr Bengtsson to resign from his post with immediate effect.
Pontus Lindwall, currently the chairman and previous CEO of Betsson steps in as temporary CEO until further notice. Board member Patrick Svensk will in turn take over the role as Chairman after Pontus Lindwall.
The Betsson stock fell by 5,2% after the news, but by 3 pm it had recovered somewhat to 2,6%.
The reason for Ulrik Bengtsson’s resignment is said to be different views in regard to future strategic prioritizations.
However, the real reason is likely not to be spoken out loud. Both affiliates and players have noticed a decline in the performance of the brand in recent years. The POGG for example lists Betsson as not recommended for affiliates. In 2015 Betsson affiliate manager Christiaan Alexander Van Dalen was sentenced to 6 years in prison for retagging affiliate’s players to himself.