The Swedish gaming operator Cherry, which has recently been granted with an operating license by the UK Gambling Commission, had revealed that its Chief Executive Officer Fredrik Burvall is to step down. The decision was made after both Mr. Burvall and the company’s Board of Directors have agreed on the matter.
The Chairman of the Board Rolf Alkerlind said that Mr. Burvall had been on top of the company at a time when Cherry had faced rapid expansion and successful performance on world’s regulated markets. He reminded that the revenue generated by the gaming operator has increased by 137%, and Cherry had managed to finalise seven takeover deals.
According to Mr. Alkerlind, the period had required a lot of efforts and hard work, especially from the then-Chief Executive Officer. He also expressed his gratitude to Mr. Burvall for his dedication and hard work.
According to the announcement made by Cherry, Mr. Burvall is to remain at Cherry and will support the company until the summer of 2017. Until they find him a worthy successor, the acting role of Chief Executive Officer is to be taken by Anders Holmgren, a board member of Cherry who has already been appointed at the position by the Board of Directors.
The newly-appointed acting Chief Executive Officer of the company Anders Holmgren, shared he was impatient to put his efforts in the future development of Cherry as a fast-growing company and promised to follow the strategy of the operator to keep its strong positions in the business.
Mr. Burvall, who is leaving the company, has more than a decade of experience at the Swedish gaming operator. Before occupying the Chief Executive Officer role, he also served as a Chief Financial Officer.
Fredrik Burvall himself also commented on the decision to step down from his role as a Chief Executive Officer and shared his pride with the fact he had been part of Cherry’s development over the years. He explained that the Swedish gaming operator had a good position for further growth, depending on its five strong units and management teams.
Cherry is a fast growing gaming business, which was officially established in 1963. Over the past few years it has been following a strategy to create large shareholder value by undertaking various actions to expand and develop the profitable businesses held by the company within the casino and gaming industry.
Currently, the Swedish company operates within five business units in different business areas and follows its main objective of generating organic growth along with making strategic acquisitions.
- Author
Olivia Cole
