CEO Per Eriksson leaves NetEnt, company is looking for “New Driving Force”
During the weekend, the Board of NetEnt decided that Per Eriksson should be no longer in the position of CEO at NetEnt. As a result of that, Per Eriksson, who has been in the position since 2012, is stepping down as President and CEO with immediate effect.
Important news for NetEnt
The future of NetEnt is about to go in a different direction now Per Eriksson is going to step down as President and CEO with immediate effect. Therefore, the company starts the recruitment process immediately in order to present a new CEO as soon as possible.
It’s the Board of Directors of NetEnt that decided it was time for s fresh wind through the company, to get the company back on track again, the track the company was on for many years.
Following the company, the replacement of the Group’s CEO should have a positive influence on the company’s long-term growth. Until that time, Therese Hillman has been appointed acting CEO, just until a new CEO is found and can be presented. Meanwhile, Therese Hillman will also remain in her current position as Chief Financial Officer (CFO).
NetEnt’s Chairman of the Board, Vigo Carlund, comments:
”NetEnt has developed well over many years and several parts of the business are still developing well, for example in regulated markets, but the overall performance of the Group has not been as it should. The Board believes that NetEnt needs a new driving force to reverse the trend and increase the focus on growth. The value creation potential in NetEnt remains significant. The online gaming market has structural growth driven by the migration from offline to online gaming. The Company has a solid balance sheet and a strong brand name in its segment of the market. The Board would also like to extend its gratitude to Per Eriksson for his time as CEO for NetEnt.”
About Per Eriksson
Former NetEnt CEO Per Eriksson served as the Chief Executive Officer and President of NetEnt (Net Entertainment when he was appointed as the new CEO) from March 1, 2012. It was thanks to his two decades of experience with B2B sales in the information technology industry that he was appointed as the new CEO.
In the time Per Eriksson has been CEO at NetEnt, many new products were launched including NetEnt’s Live products and mobile casino products while driving the upcoming VR Casino industry as well.
However, the company is taking Per Eriksson, as the CEO of NetEnt, responsible for company’s financial results of the past year as the 2017 figures show a 3.9% decline in profits.
Vigo Carlund’s, the Chairman of NetEnt, statement: “The Board believes that NetEnt needs a new driving force to reverse the trend and increase the focus on growth.”, definitely indicates that NetEnt’s Board feels that the company got stuck and is in deep need of a fresh wind in the sails in order to keep moving forward.
The probable reason NetEnt’s CEO was asked to leave
Although the news comes as a shock to many, it hasn’t been a secret that the company has been dealing with a decline in profits. However, these declines were predicted with all the company’s investments made in future products.
The company always has been a true pioneer, but the past years it looked like the company couldn’t keep its reputation alive. looking at things from that perspective, I’m not really surprised with this week’s news. NetEnt is, and always has been, an iGaming company with the most potential. Now it seems that some renewed energy is necessary to take full advantage of that potential. That’s what business is all about!
In my opinion, Per Eriksson has done very good things for the company, partially responsible for the company’s successes in the past years. During his time at NetEnt, the company entered many regulated markets from which I believe the company will benefit for many more years to come. Many great products have been launched since March 2012, but let’s hope that a new CEO brings some new spirit to the company, resulting in even better games. Because after all, NetEnt has to keep living up to its motto: Better Gaming.