NetEnt CEO Per Eriksson Dismissed From Duty

Per Eriksson, chief executive of software development giant, NetEnt as been discharged and therefore replaced by financial officer, Therese Hillman, as acting CEO. The unexpected move by the board of directors is effective immediately and the company has already initiated recruitment process. More importantly, a new strategy to increase focus on long-term growth is also being developed according to Vigo Carlund, the group’s chairman of the board.

Although the company has grown in many fields over the past few years including regulated markets and supply deals, it failed to meet financial expectations. The board finally had to react and bring a tough decision, despite the fact that Eriksson helped build a stronger brand name on the market during a six-year period. Pursuant to other of the board, NetEnt desperately needs a new driving force with more creative potentials that would focus on the expansion.

By offering a top performing portfolio with multi-channel tools and content such as table games, jackpots, branded titles and slots like Aloha! Cluster Pays, Asgardian Stones, Mega Fortune, Gonzo’s Quest, Twin Spin Deluxe and recently launched Hotline, the provider has achieved enormous fame in almost every corner of the Earth. However, after a stronger period of growth, there have been reported modest financial results. Apart from generating a steady income in the fourth quarter of 2017 at 4.7% (€400 million), a downturn of 3.9% has been recorded in operating profits (€156 million).

Carlund has also added that the overall performance of the company owes a great deal of respect to online gaming markets, since migrating from offline environments has transformed the industry and helped the group reveal its true capacities. By making crucial changes and required cuts the group will continue to provide casino solutions as a true pioneer and leading force on the market, said chairman. At this point, the board has extended its gratitude to Per who had hoped to achieve a much better outcome in 2018.

Source:

“Per Eriksson leaves NetEnt. Therese Hillman appointed acting CEO”, netent.com, March 25, 2018.