Raketech co-founder Johan Svensson has been reappointed as CEO after taking the reins on an interim basis in January when Oskar Mühlbach departed over strategic differences with the board.
Svensson, who co-founded Raketech with Erik Skarp in 2010 as a Scandinavian poker affiliate, returns to the top job after a seven-year hiatus, having transitioned in 2017 from CEO to CCO.
Raketech chairman Ulrik Bengtsson said the board was “excited” to officially announce the reappointment of Svensson to permanent CEO.
“His deep connection and commitment to Raketech and proven leadership abilities make him the ideal choice to steer the company into its next phase of growth.”
Svensson added: “I look forward to working with our talented team to build on our strong foundation and drive further innovation and growth. Our focus will remain on delivering exceptional value to our customers, employees, and shareholders.”
The appointment was effective last Thursday 16 May, the day after Raketech posted a 20.1% year-on-year rise in Q1 revenue to €19m and a 16.3% drop in EBITDA to €5.1m, the latter attributed to a softer performance in Sweden as well as of its Japanese-facing Casumba assets.
Earlier this month, the Nasdaq-listed affiliate business lowered FY estimates after Casumba suffered a “net negative impact” from the Google core update which completed on 19 April.