Lars Johansson Appointed NetEnt's CFO

Stockholm-based digital entertainment company, NetEnt, issued an official press release announcing a change in their hierarchy with the appointment of Lars Johansson as the company’s new permanent Chief Financial Officer (CFO).

Johansson, who was working as interim CFO since September 3rd, has been chosen by the Board of Directors who have conducted a very thorough search process within the company prior to making this decision.

A Wealth of Know-How

An experienced manager, Lars Johansson has more than 30 years of exquisite track record, filling numerous managerial positions across the wide range of public and private businesses and job sectors…

…His most recent employment, before ing NetEnt, was with private equity investor, Ratos AB. He was the company’s Senior Investment Director and, for the time being, acting CEO. He was also Chief Financial Officer of airport operator Swedavia AB, CFO/COO of commercial broadcaster TV4 Group AB and CFO/COO and interim CEO of Orc Software AB.

NetEnt’s Group CEO, Therese Hillman – who vacated the CFO position when she was promoted to her new role in May, commened:

“I am very pleased to appoint Lars Johansson as Chief Financial Officer. He brings significant experience to the role and has already played an important part in the ongoing change process of NetEnt.”

Necessary Sacrifices

NetEnt has already announced that it’s due to cut 55 jobs at their Stockholm headquarters…

…This is being done in order to “free up the resources” that will provide more space for creation and development of new content. As the company looks to reduce the staff numbers at the office, it will also see a certain amount of corporate staff cut.

During the third quarter of this year, the company’s revenue was up 10% year-on-year – operating profit also rose by 11% to $19 million during first full quarter under Hillman’s tenure.

New Creations An Important Way Ahead

During the final quarter of the year, NetEnt produced several breakthrough releases that hint at potential course the company will be taking in the next year and beyond.

Two of them were announced almost simultaneously: first there was the exclusive virtual live casino developed tly with Bethard, with two blackjack tables and one roulette and several interesting backdrops for the game: volcano, space and underwater.

The project called Next Level Live has an additional sports roulette table will display the live results of soccer matches as they happen.

NetEnt also presented Wild-O-Trom 3000: a brand new sci-fi themed slot game that was originally released exclusively for Party Poker operator in July.

Bryan Upton, director of game products, said that the game should resonate with sci-fi fans and gamers that love stacks and wild symbols driven games.

Source:

“NetEnt appoints Lars Johansson as Chief Financial Officer”, netent.com, December 19, 2018.