Betsson's CEO Lindwall has resigned, initiating a search for a new chief executive officer.
Swapping CEOs: Betsson AB's Next Boss on the Horizon
Swedish gambling titan Betsson AB reveals its pursuit for a new CEO to replace current boss, Pontus Lindwall, who's stepping down at year's end.
Time for a Change
The search for Lindwall's successor comes after the Board of Directors at Betsson Group evaluated the current standing of the company and the remarkable achievements of CEO Pontus Lindwall in terms of implementing the "Back on Track" strategy.
Patrick Svensk, Betsson's Chairman, expressed his and the team's appreciation to Lindwall for dedicating 25 years to the company, both as CEO and Chairman. Svensk highlighted the "pivotal role" Pontus played in Betsson's growth journey from when he took the CEO position in 2017.
In 2017, Lindwall was tasked with reinforcing the company's foundation and setting the stage for sustainable growth. Mission accomplished, says the chairman. "We're thankful for Pontus Lindwall's tireless efforts during these years and the solid groundwork he's laid for the future."
A Fresh Start
Prior to assuming the CEO position in 2017, Lindwall served as Chairman of the Board and, earlier, as CEO between 1998 and 2011. When he took on the top spot, the company's financial health was under strain due to increased operating expenses, looming regulatory challenges ahead in Europe, and the aftermath of an expensive UK sports betting market foray that didn't pan out.
Lindwall's mission involved devising and executing a transformation strategy to realign the company's executive team and harness its technological platforms and systems to drive peak performance across all Betsson brands.
Shifting Gears
One of Lindwall's major accomplishments during his second stint at the helm was expanding growth beyond the saturated European and Scandinavian markets. He successfully established the group's presence in emerging markets in South America and Eastern Europe.
During the reform period between 2018 and 2019, Lindwall and his team brought about widespread modifications across the company. As a result, Betsson posted its best-ever financial performance in 2020, which continued into 2021, maintaining the same positive trend.
Betsson's current standing has never been stronger. According to the board, "we've cultivated a robust business, packed with talented employees and strong finances," making this an opportune moment for a leadership change.
The Future Awaits
As of the latest reports in early 2025, Pontus Lindwall remains Betsson's CEO, with no announced successor or transition date on the table. Stay tuned for updates on who'll take the reins from this gambling giant's titan.
- The incoming CEO of Swedish gambling titan Betsson AB will have big shoes to fill, as they take over from current CEO and chairman Pontus Lindwall, who has been instrumental in leveraging finance and business strategies to optimize performance and expand the company's reach beyond saturated European and Scandinavian markets.
- During his tenure as CEO, Pontus Lindwall demonstrated remarkable leadership in steering the company through challenges such as increased operating expenses, regulatory issues in Europe, and a less-than-successful foray into the UK sports betting market.
- As Betsson's chairman, Patrick Svensk expressed gratitude to Lindwall for his two-decade-long commitment to the company and highlighted the pivotal role he played in driving the company's growth.
- With the company's current strong financial standing and talented workforce, the board of directors at Betsson Group sees this as an opportune moment for a leadership change, as they prepare to leverage Lindwall's solid groundwork for future growth in the sports betting industry.
