Anders Holmgren has seen his role as acting CEO at Cherry made permanent, with the company’s board appointing him with immediate effect.
Source: cherry.se
Holmgren is currently a board member of Cherry and Yggdrasil Holding, and has been acting CEO of Cherry for around a month. He will now resign as a member of the board of directors following his confirmation as permanent CEO.
Rolf Åkerlind, chairman of the board, said: “Anders has, during his years as a board member of Cherry, been a driving force for the company and possesses an excellent knowledge of the industry in which we operate.
“His experience working within large companies in the finance and gaming industries, as well as an entrepreneur, will give Cherry impetus to continue the company’s expansive development.”
Holmgren added: "As a member of the board of directors, I have had the benefit of observing this exciting company and all the development possibilities it holds. Cherry is one of the most complete gaming companies there is, and is well positioned to continue to develop and grow faster than the market.”
The news comes as the group published its Q4 and full-year results for 2016. Fourth quarter revenues grew 201 per cent to SEK519.4m (€54.8m). Profitability was also up dramatically with EBITDA increasing 353 per cent year-on-year to SEK106.3m (€11.2m).
For the full year to December 31, 2016, revenues grew 109 per cent to SEK1,102m (€116.3m) with EBITDA up a massive 393 per cent to SEK177.7m (€18.75m).
Holmgren said of the results: “The strategy of continuously developing the business areas, combined with adding strategic acquisitions where entrepreneurs continue to be active in the business, is the core of Cherry's great performance.
“The company continues its work towards a change of listing to Nasdaq Stockholm during the first half of 2017.”
