BUSINESS

Net Entertainment CEO Öhman steps down

TAGs: Johan Öhman, Net Entertainment

Net EntertainmentOnline casino games developer Net Entertainment’s recent financial results showed that Net Entertainment (Net Ent) achieved a slight increase in almost all sectors for the second quarter of the year. Their financial results showed that revenues for the quarter increased 12% year-on-year to SEK99.9m with operating profit also increasing from the last quarter to 27.2m from 26.3m. The company’s profit after tax also increased from 22.9m to 25.1m.

The results weren’t exactly eye popping, but the company has bigger issues, as they will now have to search for a new skipper. It has been announced that Johan Öhman will be resigning from his position as chief executive of Net Entertainment.

Johan Öhman served as Net Entertainment CEO since 2006, overseeing the company’s break off from Swedish gaming operators Betsson and Cherry into one of the industry’s leading games developers.

During Öhman’s tenure, the company’s revenues grew by 269 per cent, which made Net Entertainment the second fastest-growing publicly listed online gaming company.

Öhman’s departure comes as a surprise and the only cause given for his abrupt departure are “family reasons.”

So now, Net Entertainment must begin the search for a new skipper as Öhman’s resignation takes effect immediately with sales director Björn Krantz stepping into the role of acting-CEO until a permanent replacement has been identified.

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