BUSINESS

Cherry CEO resigns

TAGs: Cherryforetagen, Gunnar Lind

cherrySweden’s Cherryföretagen CEO Gunnar Lind, the company’s CEO and president for the past five years, has informed the board that he has decided to resign from his role.

During his time as CEO and president, Lind has overseen the company’s transformation into a significant player in the online gaming market. In 2008 Cherry entered the online gaming space with its PlayCherry.com site and has since continued to grow its presence in the online gaming space.

Last year, Cherry’s online gaming segment saw revenues amount to SEK133.8m, accounting for 36 per cent of total revenues. This year, Cherry boasted even more impressive results with online revenues of SEK48.8m for the first quarter of 2011, already accounting for more than a third of its entire contribution in 2010. Much of the credit belongs to Lind’s leadership.

“With almost 5 years as CEO and president of Cherryföretagen behind me, I feel that the time has come to leave the post to a new leader,” said Cherry’s outgoing CEO and president Gunnar Lind. “It has been a challenging and exciting time, where the company has transformed from a mainly traditional actor on the gambling market to also become a major actor on the online market.

“Cherry is well equipped to take the next step on the market together with a new leader and to continue to create values for the company shareholders.”

The board of directors has started the process to recruit a new CEO. Gunnar Lind will remain as CEO until a new CEO has been appointed by the board and will make sure that the transition process runs smoothly.

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