Investors have been told by Kindred Group Plc that company founder Anders Ström will not seek re-election as Non-Executive Chairman.
Lauded as an industry figurehead, Unibet, the original business company of Kindred, was founded by Ström in 1997 as a telephone betting service to take wagers for Swedish clients.
The following personal statement was released by Ström on his decision not to seek reelection: “Some years ago I made the promise to myself that before my 50th birthday, I would start to disengage from the forward positions in the companies that I am invested in, and spend more time managing the investments as such and with my family.”
Ström restructured Unibet’s popular telebetting service in 1999, forecasting dramatic changes in sports betting, by introducing Unibet’s first English and Swedish language websites, while also extending the operations of the company in Malta to accommodate change.
Ström took the role of company chairman in 2000, having founded the pan-European operations of Unibet, which laid the groundwork for the company to be listed on the Stockholm Nasdaq Exchange as the largest online gambling company.
Evert Carlsson, Chair of the Kindred Plc Nominations Committee said: “Throughout the years, Anders Ström has been an important and inspiring asset to the board of Kindred, and he has provided it with in depth knowledge of the industry and contributed to a stable and competent board.”
Looking ahead, Ström reaffirmed his trust in the long-term growth plan and future prospects of the Stockholm-listed firm, stating that he will remain active as an investor in the company.
He concluded: “Kindred has undertaken a fantastic journey during the 23 years that have passed since I founded its most well-known brand, Unibet, and has developed into a great company with almost 30 million customers, 1,600 employees, and with excellent further opportunities of growth with the right strategies and focus. Hence, I look forward to taking part in such a growth in value as an owner and investor.”