SBC News Raketech confirms Mühlbach CEO exit over strategic direction

Raketech confirms Mühlbach CEO exit over strategic direction

The board of Raketech Group Plc has announced that Oskar Mühlbach has chosen to resign as CEO of the Nasdaq OMX-listed igaming media publisher.

As detailed by a corporate update, “Mühlbach will leave his role as CEO due to different views on the strategic direction of the company.”

Board member and company co-founder Johan Svensson has assumed leadership responsibilities as Acting CEO and will remain in the position until a permanent CEO has been appointed.

The former Chief Operations Officer of Raketech, Mühlbach was promoted to CEO in 2019, replacing the former incumbent, Michael Holmberg.

As CEO, Mühlbach oversaw Raketech’s M&A drive, expanding its media portfolio beyond European markets by acquiring the North American assets of QM Media (a €16m deal), ATS Tipsters (a €15m deal), and the Japanese online casino portal Casumba (a €3m deal).

the firm’s latest trading results, saw Mühlbach laud the diverse makeup of Raketech’s media portfolio, which  generated €21m in revenues accumulated from 44% in Affiliate Marketing, 52% in Sub-Affiliation, and 4.5% in Subscription Fees.

Company co-founder Svensson was the CEO of Raketech Group Holding PLC until 2017 and has since then worked as Chief Commercial Officer and with M&A and business integrations.

Raketech will inform investors in due course about the appointment of a new permanent CEO.

Check Also

SBC News Raketech hails sub-affiliate growth to hit elevated FY2023 targets  

Raketech hails sub-affiliate growth to hit elevated FY2023 targets  

Raketech Plc has delivered on elevated targets for 2023, bolstered by the expansion of its …

SBC News Raketech elects M&A experts to board

Raketech elects M&A experts to board

Raketech Group Plc has confirmed the appointment of Marina Andersson and Patrick Jonker as newly …

SBC News Raketech stands by elevated 2023 targets as media is refreshed by Casumba M&A

Raketech stands by elevated 2023 targets as media is refreshed by Casumba M&A

Raketech Plc remains on track to deliver its best year in business to investors, underscored …