Following a six-year tenure leading Scout Gaming Group, Chief Executive Officer Andreas Ternström has resigned.
The Swedish businessperson assumed the CEO and President positions in 2016, but opted to depart in anticipation of a “substantial reorganization” within the organization.
Scout Chairman Niklas Braathen acknowledged “challenges” as he expressed appreciation for the departing CEO’s contributions, stating that “the moment is opportune for Andreas to exit the company.”
These challenges likely allude to Scout’s fiscal standing, which has been adversely affected by the conflict in Ukraine. The company disclosed a 20% decline in earnings from its wagering activities during the initial quarter.
“Representing the company, I wish to convey our sincere thanks to Andreas for his unwavering dedication in developing the Scout Gaming structure, particularly the product portfolio Scout Gaming possesses today,” remarked Braathen.
“The company has encountered obstacles for a period and its operations will undergo a significant restructuring and transformation moving forward. In light of this context, we have mutually determined that this is the appropriate time for Andreas to move on from the company.”
Ternström, in turn, conveyed gratitude towards his colleagues, especially those situated in Ukraine. He stated: “I wish to express my appreciation to all associates, staff members, board representatives, and proprietors for their backing throughout the years.”
My profound appreciation goes out to the remarkably skilled and courageous individuals comprising our Ukraine team. The past couple of years have presented them with unfathomable difficulties, as they diligently persevered through a worldwide health crisis and now armed conflict within their own borders. Their fortitude and ability to overcome inspire me.
I plan to maintain my involvement with the organization as an investor and will perpetually advocate for its triumphs. Looking ahead, I am optimistic about the possibility of further contributions to the company and its overarching goals.”
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