In news that has come as a shock to many in the gambling industry, it has been announced that NetEnt’s Board of Directors has decided to replace long-time CEO Per Eriksson.As a result of the board’s decision, Eriksson is to step down with immediate effect, and the search for a new CEO has already begun.Therese Hillman will be acting CEO for the time being until a replacement for Eriksson can be found. Hillman will also remain in her current position as Chief Financial officer of the company as well as acting as CEO.
Taking control of NetEnt way back in March 2012, Eriksson kept NetEnt at the top of the iGaming world during its most competitive period of all time, while also overseeing an expansion of products and services, and expansion into multiple new markets including the US.
A new driving force
Speaking of the decision, Vigo Carlund, Chairman of the Board at NetEnt, said:“NetEnt has developed well over many years and several parts of the business are still developing well, for example in regulated markets, but the overall performance of the Group has not been as it should.“The Board believes that NetEnt needs a new driving force to reverse the trend and increase the focus on growth.“The value creation potential in NetEnt remains significant. The online gaming market has structural growth driven by the migration from offline to online gaming.“The Company has a solid balance sheet and a strong brand name in its segment of the market.“The Board would also like to extend its gratitude to Per Eriksson for his time as CEO for NetEnt.”There is no suggestion who the new CEO of NetEnt will be, but Therese Hillman keeping her CFO job suggests her time in the position will be short lived.