SBC News Voice of the Sports Betting Industry
Scandinavian news sources have reported that Ander Ingves has resigned as Chief Executive of Paf following an ongoing dispute with corporate governance regarding the future strategy of the gambling operator.
The board of directors of the Aland Islands licensed company, confirmed to local news sources that Ingves had left the company last week, and had been temporarily replaced by Chief Financial Officer John Rotherberg.
News sources have confirmed that Ingves took the decision to depart, due to substantial differences regarding the operator’s future growth strategy. Paf governance did not supply any further details regarding Ingves fallout.
Ingves had served as CEO of Paf since April 2009, Paf governance stated that they had begun the search for his replacement.
In May 2015, Ingves had detailed to Scandinavian news sources that he was unhappy with Paf performance, which had recorded a decline in all top-line metrics with the operator announcing a 45% full-year decline to €17 million.
Ingves noted that in order to reverse Paf’s declining corporate performance, the operator would have adopt an aggressive and diversified strategy to compete against international operators targeting its core markets.
