Kindred Group Plc has told investors that corporate consultant Stefan Lundborg has resigned with immediate effect from all duties as a non-executive director.
The resignation relates to Lundborg being investigated by the Swedish Economic Crime Authority (SECA) for ‘insider crime,’ with which Kindred promised to cooperate entirely with the public prosecutor and SECA agencies.
Kindred said that when more information is given by the authorities, it will update investors on the investigation.
Anders Ström, Chairman of the Board at Kindred Group said: “The resignation of Stefan Lundborg was unavoidable considering the investigation against him by the Swedish Economic Crime Authority.
“The Board would like to emphasize that no other representatives of the company have been served any suspicion of misconduct and neither is the company itself under any suspicion.”
Ström announced his formal resignation as chairman of Kindred this week, telling company shareholders that he will not be re-elected at the next annual general meeting of the company.
Ström, the founder of Unibet, the original business company of Kindred, said it was his plan to ‘disengage from all businesses that he is invested in by his 50th birthday,’ and spend more time with his family and for personal activities.