Kambi seeks new CEO as Kristian Nylén ends 14-year leadership term

The board of Kambi Group Plc has announced this morning that Kristian Nylén has expressed his intention to step down as CEO of the Stockholm-listed sports betting technology group.

Nylén, who co-founded Kambi in 2010, will resign from leadership duties upon the appointment of a successor, as the Board initiates a search for a new CEO.

Having served as Kambi’s sole Chief Executive to date, Nylén has guided the company through numerous significant milestones since its foundation. Under his leadership, Kambi has become the industry’s leading provider of B2B sportsbook technology systems, serving over 40 customers including Kindred Group, LeoVegas, Rush Street Interactive, and Bally’s Interactive.

Regarding his decision, Nylén said: “The decision to step down from my position at Kambi after so many enjoyable years has been difficult, but it is primarily driven by my wish to spend more time with my young and growing family.”

He continued, “As co-founder, my heart and professional loyalty remain firmly with Kambi. Therefore, I am honored to accept the Nomination Committee’s proposal to join the Board. Pending my election at the forthcoming Annual General Meeting (AGM), I look forward to dedicating more attention to the strategic aspects of our business. However, my immediate focus is on advancing Kambi in my current role.”

At the close of 2023, the Board announced the appointment of company co-founder Anders Ström as the new Chairman, succeeding Lars Stugemo, who chose to end his 14-year tenure.

Kambi has highlighted its long-term commercial prospects, bolstered by the addition of new key partners such as Svenska Spel and LiveScore Group, and by developing new B2B services led by the new units of Shape Games and the esports technology unit, Abios.

Ström praised Nylén’s impact: ‘Kristian’s role has been pivotal in establishing Kambi as a leader in our sector. His strategic insight and steadfast commitment have been instrumental to our many achievements. The Nomination Committee’s proposal to elect Kristian to the Board is a testament to his extensive industry knowledge, which will continue to significantly benefit Kambi.’

Ström added, ‘I am confident that Kristian’s insights and proficiency will continue to drive the company forward and create value for our shareholders. His potential transition to the Board is a reflection of his enduring dedication to Kambi, both as a founder and a major shareholder. It ensures a steady and stable strategic direction for the company. The search for a new CEO will begin immediately, and updates will be provided as they become available