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Betsson chairman Svensk resigns after CEO dismissal

·1 min read
FILE PHOTO: Betsson Group employees walk through the reception lobby of the Betsson headquarters in Ta' Xbiex

STOCKHOLM (Reuters) - Swedish online gaming company Betsson said on Thursday that its chairman, Patrick Svensk, had resigned effective immediately in the wake of the dismissal of the company's Chief Executive earlier this month.

The company, which said it had appointed board member Johan Lundberg as its new chairman, said Svensk's decision to resign was because major shareholders had lost confidence in him.

"The lack of full trust is due to how the dismissal ofthe CEO was handled," the company said in a statement.

Betsson said on Sept. 17 that the board had begun a process of finding a replacement for CEO Pontus Lindwall.

Svensk has been the chairman of Betsson since 2017 and a board member since 2005, while Lundberg has been a board member since 2018.

"It is very sad, and I am sorry that I have disappointed our major owners, but I have done what I thought was best for the company," said Svensk.

(Reporting by Helena Soderpalm; Editing by Shri Navaratnam)