Kindred Group Plc has announced this morning that Johan Wilsby will leave his position as Chief Financial Officer (CFO) later this year.
An executive search process has been initiated to find the successor of Wilsby who has served as CFO of the Stockholm-listed online gambling group since September 2020.
“Kindred is a dynamic company and Johan has been instrumental in developing the Group’s corporate function, the strategic execution, as well as contributing to the Executive leadership team,” read a statement by Group CEO Henrik Tjärnström.
During the first quarter of trading, Kindred reported an improved group cash flow from operations of £29m, a significant recovery from a £5.5m loss in Q1 2022.
The company also reported strong performance in the period following the quarter, citing a gross winnings revenue of £3.5m as of 23 April- reflecting a 38% increase over the £1.3m announced during the previous year’s equivalent period. The sustained growth in the Netherlands has played a significant role in these positive outcomes.
Despite these gains, Kindred’s Q1 revenue of £306m and a post-tax profit of £26m is still substantially short of the 2021 comparatives of £353m and £73m. In response, the company has reassured its stakeholders that it remains committed to exploring strategic alternatives to enhance its returns.
Tjärnström concluded: “Johan has also been a very appreciated colleague and has shown leadership and integrity during challenging times. I want to thank Johan for his contributions and wish him the best of luck in his future career”