Andreas Ternström has resigned from his position as Chief Executive Officer of Scout Gaming Group following six years in charge.
The Swedish businessperson was designated CEO and President in 2016, but he has chosen to depart ahead of a “significant reorganization” at the firm.
While expressing appreciation to the departing CEO for his tenure, Scout Chairman Niklas Jönsson mentioned “obstacles” and indicated that “the present time is appropriate for Andreas to exit the company.”
These difficulties likely stem from Scout’s fiscal performance, which has been adversely affected by the conflict in Ukraine. The company disclosed a 20% yearly decline in revenue from gaming activities in the first quarter.
“On behalf of the organization, I desire to convey our genuine thanks to Andreas for his substantial contributions in developing Scout Gaming’s structure and particularly the product portfolio Scout Gaming currently possesses,” remarked Jönsson.
“The company has presently entered a period of challenges where a substantial restructuring and transformation of our business practices is impending. Consequently, we have mutually consented that now is the opportune moment for Andreas to leave the company.”
Ternström, in turn, expressed gratitude to all his coworkers, especially those based in Ukraine. He stated: “I wish to thank all associates, staff members, board representatives, and stakeholders for their backing throughout this period.”
My profound appreciation goes out to the remarkably gifted and committed individuals we have in Ukraine. Facing the adversity of conflict and a worldwide health crisis, their resilience and dedication have been steadfast.
Although I am resigning from my position, I am not disappearing. My role as a stakeholder will continue, and I will maintain close ties. I possess complete confidence in this group’s ability to accomplish extraordinary feats, and I eagerly anticipate the developments that lie ahead.”
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