Changes in board and management of Evolution Gaming Group AB (publ)

Published: 25/10/16

[PR] Evolution Gaming Group AB (publ) conducts changes to its board and management in order to best meet the strong growth for the group and secure continued successful development. Current Chairman of the board, Joel Citron, has decided to resign as Chairman but will remain as a member of the board. CEO and board member Jens von Bahr has been elected new Chairman by the board up until the next general meeting. In connection, Martin Carlesund takes the role as CEO of the group and Johan Nordström is employed as CEO of the operational entity.

“As a result of our achievements, I have decided to resign as Chairman as I am convinced that the company needs an Executive Chairman to meet our future challenges. The board has therefore decided to appoint Jens as Chairman up until the next general meeting. The company requires an executive of Jens’ capabilities and industry expertise to focus full-time on strategy. Jens will engage with our management team, customers and shareholders in connection with formulating and executing the company’s future growth. Jens taking over as Chairman at this time also affords the opportunity to promote Martin to Group CEO. My role will be focused on guidance, general oversight and governance issues. I look forward to working with Jens, Martin and the board as we continue to build this outstanding company”, Joel Citron said.

“Ever since the IPO, Martin and I have collectively focused on creating an organisation which can take Evolution to the next level. We now have that in place, and Martin is the right person to lead it; which he has proven during his time as CEO of the operational entity. In the role of Executive Chairman, I will be able to focus fully on the development of our ongoing, successful growth strategy. Among other things, I see the need to increase the time we look at potential acquisitions and strategic partnerships going forward”, Jens von Bahr commented.

“The company is in a highly expansive period where existing customers are demanding more services, new customers are added, and where larger trends such as the land-based online migration are happening. Based on this, Evolution has a great opportunity to further strengthen its leading position in the Live Casino market, and I look forward to leading the company to further success. It also feels great to have recruited Johan Nordström as new CEO of the operational entity. With Johan’s impressive track record and background in B2B sales with executive roles, the latest within EF Education First, I am sure he will bring a lot to Evolution”, Martin Carlesund said.

Information about the board and management members

Jens von Bahr is founder and CEO of Evolution Gaming since 2006.

Joel Citron was elected to the Evolution board ahead of the company’s IPO in 2015. He is also CEO of Tenth Avenue Holdings and has broad experience from various management positions in investment and operating companies in Europe and the US.

Martin Carlesund is CEO of Evolution Malta since June 2015. He has extensive experience within the gaming industry and was before joining Evolution CEO at HighLight Media Group Ltd, one of the world’s leading gaming affiliates. Previously, he has also been CEO of Eniro Sweden and Eniro Finland.

Johan Nordström most recently was President Asia at EF Education First, the world’s largest private education company. Johan has extensive experience from managing businesses in an international environment, at EF and Oriflame among others.

The changes will be effective as of 1 November 2016.

For investor enquiries, please contact:
Jens von Bahr, CEO,

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