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.