Kristian Nylén, the CEO and co-founder of Kambi, has announced his plans to step down from his position within a year, a decision that has been met with surprise and concern within the company. Since its founding in 2010, Kambi has emerged as one of the leading sportsbook suppliers in the industry, thanks in large part to the leadership of Nylén and his partner, Anders Ström.
Nylén’s decision to resign stems from a desire to prioritize his family and spend more time with them. Although it was a difficult choice, he has committed to remaining in his role until a suitable successor is found. Ström, who co-founded Kambi with Nylén, has expressed his gratitude for Nylén’s contributions to the company, emphasizing his strategic vision and unwavering commitment.
Following the announcement of Nylén’s resignation, Kambi experienced a decline in its shares, dropping by 1.83%. However, the company remains optimistic about its future prospects, aiming to surpass its Q3 revenue and achieve further growth. In the third quarter of 2023, Kambi’s revenue increased by 15%, reaching €42.1 million, despite the loss of PENN Entertainment.
In addition to Nylén’s resignation, the company has undergone significant leadership changes, including the appointment of Anders Ström as the new company chair. Lars Stugemo, a long-serving member, departed the company, although he is set to remain on the Nomination Committee at the suggestion of Veralda Investment, the largest shareholder. Furthermore, Benjie Cherniak has been nominated as a new member of the company’s board.
Despite the challenges presented by Nylén’s impending departure, the company has already taken steps to address the change in leadership. The Nomination Committee has proposed Nylén for election to the board, with the final decision set to be made at the 2024 Annual General Meeting (AGM). If elected, Nylén will serve on the board for at least a year, ensuring a smooth transition and continuity in the company’s leadership.
In response to the nomination, Nylén expressed his gratitude, affirming his dedication to Kambi and his eagerness to contribute to the company’s strategic direction as a board member. With these developments, Kambi is poised to navigate the transition and continue its trajectory of growth and success in the industry.