Following a six-year tenure leading Scout Gaming Group, Andreas Ternström has resigned from his position as Chief Executive Officer.
The Swedish businessperson assumed the CEO and President responsibilities at Scout in 2016, but he has chosen to depart in advance of a “significant reorganization” within the organization.
Attributing the decision to “challenges,” Scout Chairman Niklas Braathen expressed appreciation for the departing CEO’s contributions but stated that “the moment is opportune for Andreas to exit the company.”
These challenges likely allude to Scout’s fiscal standing, which has been adversely affected by the conflict in Ukraine. The firm announced a 20% decline in earnings for its wagering activities in the first quarter.
“Representing the company, I wish to convey our sincere gratitude to Andreas for his substantial efforts in developing the Scout Gaming structure, particularly the product assortment that Scout Gaming currently holds,” Braathen remarked.
“The enterprise has, for a period, encountered obstacles, and a substantial restructuring and transformation of the company’s operational approach is imminent. In light of this context, we have collectively determined that the timing is appropriate for Andreas to move on from the company.”
Ternström also conveyed his appreciation to his coworkers, especially those based in Ukraine. He stated: “I want to express my thanks to all associates, staff members, the board, and stakeholders for our shared experience.”
I wish to convey my profound appreciation to each individual on our remarkable team in Ukraine. Your commitment and fortitude, particularly amidst conflict and a two-year health crisis, is genuinely inspiring.
Although I am resigning from my position, I will forever remain connected to this organization. I eagerly anticipate witnessing what lies ahead and contributing to our ongoing expansion in different capacities.”
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